Our Investment in Caravelo

Riverside Acceleration Capital (RAC) is thrilled to announce our recent investment in Caravelo, a Barcelona-based technology company providing subscription solutions to the global travel industry. The partnership marks RAC’s first investment in a Spanish company.

Caravelo was founded in 2015 by Iñaki Uriz and José Luis Vilar, who envisioned a better, more-connected world. They saw travel as a force for good in breaking down barriers and set out to create an array of travel infrastructure solutions that quickly caught the attention of some of the travel industry’s largest players.

When the COVID-19 pandemic slowed travel worldwide, it left an industry with already thin margins and volatile demand in need of a more predictable and recurring source of revenue. Caravelo quickly rose to the occasion, honing its focus to power a subscription-based model for the travel industry.

Since then, the company has developed three subscription products designed for airlines, railway companies, and other passenger transportation companies:

• Trip Subscriptions, enabling customers of participating brands to access a set number of trips for a recurring fee
• Unlimited Subscriptions, an all-you-can-eat model focused on selling seats that would otherwise remain unsold
• Club Subscriptions, tailored memberships designed to grow direct bookings and lock in loyalty through member-only perks and discounts

Caravelo’s solution aims to make it easy for travel companies to configure and deploy a tailored subscription model. The modular platform is designed to easily integrate with a company’s existing technology stack and can be white-labeled for a seamless brand experience. It also offers actionable insights around key metrics like revenue and retention, along with enterprise-grade performance and security.

Today, Caravelo powers subscription programs for travel companies around the world, including avianca, Jazeera Airways, JetSmart, Saudia, Volaris, and Wizz Air. They were also recently recognized by Deloitte as one of the 50 most scalable technology companies in the Spanish entrepreneurial ecosystem, based on revenue growth over the past four years.

In our view, Caravelo offers a differentiated subscription platform that meets a pressing industry need that will only continue to grow as travel companies shift toward predictable revenue and smarter inventory optimization. Just as important, the vision and execution track record of the founders—and the talented team they’ve assembled—give us great confidence in what comes next.

To learn more about Caravelo and their mission to create a well-traveled world, visit www.caravelo.com.