HipWay Raises $2M; Completes $2.75k Angel Funding

HipWay Ltd., an online, invitation only travel club and a provider of credit cards as a way of purchasing online travel packages within Russia, has raised an additional $2m to complete a $2.75k angel funding round.

Backers include Chamath Palihapitiya, Michael van Swaaij, Fabrice Grinda and Mark Gerson.

Launched in October of 2010 by CEO Mikhail Reider, HipWay offers credit card payments for packaged tours. It has also created a a spin-off website (hipclub.ru), which is available by invitation only to provide exclusive travel opportunities and deals to its members.

The company plans to raise an additional funding round with the goal of receiving $10m in funds.



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