Aviasales receives $10 million
Aviasales is Russia’s largest travel search engine that lets consumers find cheap flights and accommodations. The funding was provided by iTech Capital, which received a minority stake in the company. iTech Capital’s Managing Partner Gleb Davidyuk and Investment Manager Ilya Balandin will be joining the Aviasales board of directors.
This new round of funding will be spent on developing the service, expanding their team, and promoting key products.
“Partnering with iTech Capital will allow us to keep up the growth pace on a highly competitive market. At the moment Aviasales is growing by more than 100% a year,” stated Aviasales founder Konstantin Kalinov.