Windfall for Omio
The travel industry has been very hard hit by the corona pandemic and its various restrictions. But Berlin start-up Omio is bucking the trend in a big way. The travel platform has just taken in EUR 100 million in additional venture capital from investors including Goldman Sachs.
Omio provides a meta-search engine that covers trains, bus and air travel. The company already raised EUR 400 million in past years and is considered by experts to be a unicorn.
Analysts think that Omio could majorly benefit from the consolidation expected within the travel industry. The company says that it intends to use its fresh infusion of capital to expand, particularly in North and South America and in Southeast Asia. There has been speculation that it could look to buy competing platforms.
Omio extended its offerings at the start of the year to include busses and trains in the US and Canada. It also says it intends to re-employ all of its employees who went on furloughs because of the pandemic.