Welcome Pickups Raises €5.3 Million in Funding to Fuel Global Expansion and Accelerate Growth
Welcome Pickups secured €5.3M in funding after successfully surviving the COVID pandemic by optimising operations and achieving remarkable growth and financial results in 2022.
December 12, 2022, Athens. Welcome Pickups, Global Travel Transportation Startup, secured 5.3 million euros in funding from existing investors, Market One Capital, Flashpoint, and Venture Friends.
Welcome Pickups CEO Alex Trimis mentioned: “The additional funding will be used to accelerate the company’s geographical reach with a goal to double its destination network, focusing strongly on launching new destinations in North and South America”. Alex Trimis added that “a portion of the funds will also go to further improving customer experience and developing new products to support the company’s mission of creating a complete, personalised, and inclusive in-destination travel experience for all.”
Donatella Callegaris, Managing Partner, Flashpoint: “We are extremely excited to further support Welcome Pickups with additional capital on their growth journey. The company demonstrated an ultimate level of resilience during the COVID downtime and further improved the business model that allowed them to bounce back, once the lockdowns were lifted, with even greater success. We are very much looking forward to Welcome Pickups utilising the fresh capital to continue their international expansion and offering their services in an even larger number of destinations.”
Welcome Pickups managed not only to survive the COVID crisis but also achieved outstanding growth and financial results in 2022, including a 50% growth rate and the launch of over 30 new destinations, bringing the company’s total locations to 100 worldwide — all while increasing its profitability and serving over 1 million travelers.
Unlike many companies in the travel industry that remained at a standstill, the team at Welcome Pickups focused on streamlining processes and increasing product-led automation throughout its operations, resulting in an x8 drop in human touch per booking. Thanks to an upgraded product and optimised distribution mix, Welcome Pickups has been profitable for the past 18 months, earning a positive EBITDA rating and securing itself an unlimited runway status.