Turismocity raises $ 6 million and acquires a Brazilian travel platform

Argentina based travel search engine Tourism raised $ 6 million and made its second acquisition in less than a year, acquiring the Brazilian company Quanto Custa Viajar.

Terms of the deal were not disclosed. Turismocity acquired Dallas-based FareCompare in December 2020, allowing it to expand beyond its original focus on Latin America in the United States, Europe and elsewhere.

The investment round includes the participation of several Argentine business leaders, including Eduardo Elsztain, CEO of IRSA / Cresud, Martin Migoya, co-founder and CEO of Globant, Francisco Alvarez-Demalde, co-founder and managing partner of Riverwood Capital and Pablo Saubidet, co-founder of Iplan and Fibertel.

Quanto Custa Viajar is a digital travel planning tool that includes a calculator to determine the cost of any trip to any destination, including airfare, accommodation, daily expenses, food, rental car and more. Founded in 2014, the company currently has over 12 million users per year.

Turismocity says the pandemic has allowed it “to gain a more global perspective and take advantage of different opportunities within our industry.” He says he plans to continue to acquire and invest in travel and tech companies.

“Our goal is to be one of the top five travel agencies in the world,” he said in a statement.

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