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Whizar is a platform for travel agencies that uses artificial intelligence to predict airfare fluctuations and optimize when tickets are issued. The system helps agencies delay ticketing until prices are at their lowest, enabling cost savings that can be shared between agencies and their customers. During the delay window, the platform offers free changes and cancellations to reduce booking abandonment and improve conversion rates. The revenue model scales on the savings from lower airfares and the resulting increase in bookings. Whizar targets travel agencies seeking competitive pricing and greater consumer flexibility in a volatile airfare market.
Industries
Data & Analytics
Enterprise Software
AI & Machine Learning
Company Size
51-200
Company Stage
Acquired
Total Funding
$20.7M
Headquarters
Tel Aviv-Yafo, Israel
Founded
2017
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Total Funding
$20.7M
Below
Industry Average
Funded Over
4 Rounds
Swedish flight booking group Etraveli has acquired Israeli travel tech startup Wenrix. Whilst the purchase price was not officially disclosed, market estimates suggest a base price of $170 million, potentially rising to $300 million depending on performance targets. The deal marks another acquisition in the travel technology sector, with Wenrix joining Etraveli's portfolio of booking services. Further details about the transaction terms and integration plans were not provided in the announcement.
The Israeli startup's algorithms are based on big data and deep learning models that predict when flight tickets are at their lowest price
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Industries
Data & Analytics
Enterprise Software
AI & Machine Learning
Company Size
51-200
Company Stage
Acquired
Total Funding
$20.7M
Headquarters
Tel Aviv-Yafo, Israel
Founded
2017
Find jobs on Simplify and start your career today