Montreal-based Hopper has entered into a strategic partnership with Nubank, a leading financial services provider in Latin America. The deal was announced on Thursday, marking Nubank’s entry into the travel industry, with Hopper playing a pivotal role.
Key Details of the Partnership
As part of this alliance, Hopper will supply Nubank, which boasts 80 million customers in Brazil, Mexico, and Colombia, with travel inventory as well as price prediction technology. Various price protection products will also be delivered through mobile services. Nubank’s travel portal is expected to launch in 2024.
- Hopper will enable Nubank to offer a comprehensive travel portal within its shopping platform.
- Nubank’s entry into the travel sector seeks to expand beyond financial services. In 2023 alone, the fintech firm launched 25 new products.
- Hopper’s suite of fintech travel products, known as Hopper Cloud, will be integrated into Nubank’s offerings. This integration will help businesses to offer more diverse travel options to their clients.
Benefits for Both Parties
“This is a great partnership for Hopper Cloud, as we’ll have the opportunity to combine Hopper’s global travel and eCommerce expertise with Nubank’s innovative approach to digital financial services,” said Dakota Smith, President, and Co-Founder of Hopper. The regions of Asia and Latin America were highlighted as specific growth targets. “We’re scaling so quickly, especially in places like Asia and Latin America, that we want to make sure that we are focused on growing the business, [and] growing our customer base before we think of a public listing,” Lalonde stated.
Impressions from Stack Capital
Stack Capital Group Inc., an investment holding company with Hopper in its portfolio, expressed its optimism about the partnership. “This partnership with Nubank is yet another impressive accomplishment for Hopper. Hopper Cloud continues to expand globally and is generating significant growth; we’re very excited and optimistic about the future outlook for the B2B business given the strength of the offering,” said Jeff Parks, CEO of Stack Capital.
About Hopper
Hopper is a rapidly growing mobile-first travel marketplace, dedicated to helping customers save money and enhance their travel experiences. The Hopper app has been downloaded nearly 100 million times and continues to gain market share worldwide. Its B2B initiative, Hopper Cloud, syndicates its travel fintech products and inventory to other companies aspiring to sell travel, thereby offering a unique consumer experience.
About Nubank
Nubank is one of the world’s leading digital financial services platforms, serving about 80 million customers across Brazil, Mexico, and Colombia. As a leading technology company, Nubank employs proprietary technologies and innovative business practices to develop new financial solutions for individuals and SMEs.
Other Partnerships and Future Plans
In addition to the partnership with Nubank, Hopper has been active in forging alliances with other businesses, most notably Uber, Expedia Group, and Booking Holdings. It has a deal in place to power Uber’s flights and fintech products and another deal with Expedia Group to power travel at Walmart. These partnerships demonstrate Hopper’s commitment to expanding its global footprint and continuing to evolve its business model.
In fact, Hopper’s international expansion strategy is key to its plans for the future. The company has been explicit about its ambition to grow its customer base internationally before considering going public. It is rapidly scaling its operations, particularly in emerging markets like Asia and Latin America, demonstrating its commitment to this strategy.
Conclusion
In conclusion, the partnership between Hopper and Nubank promises to bring an enhanced travel booking experience to Nubank’s millions of customers in Latin America, helping Hopper further extend its international reach. It will be interesting to see how this partnership evolves over time and what it means for the wider travel and fintech industries.
