Credo Ventures backs Romanian travel tech company DCS Plus


DCS Plus, a Romanian travel tech company, has raised a total of $6.2 million in funding. The company’s investors include Credo Ventures.

PRESS RELEASE

Bucharest, Romania, April 5, 2017 – dcs plus, a leading travel technology company welcomes Credo Ventures – a venture capital company focused on investments in Central and Eastern Europe – as a new investor in the company. Credo Ventures joins previous investor Earlybird Venture Capital – the European based venture capital firm, which initially invested in dcs plus in 2015 – increasing the total amount invested so far to 6.2 million USD.

“Travel tech category has experienced massive growth over the past few years, reflecting the fact that travel and tourism industry makes up to 10% of global GDP and accounts for nearly as many jobs. Surprisingly the sector is extremely fragmented, and inefficient from the customer’s point of view. We strongly believe that dcs plus has developed a very strong suite of products for travel industry, and has the potential to not only become a leading provider of travel software, but also make the market more efficient and transparent for the travelers”, said Ondrej Bartos, Partner with Credo Ventures.

“This investment will open up new possibilities for dcs plus and will allow us to develop and provide innovative products and services to more companies than ever before. We are already preparing the launch of some gamechanging technologies quite soon”, said Cristian Dinca – CEO & Founder at dcs plus.

“Today, the corporate travel technology sector is one of the fastest growing within the global tourism industry. This fresh capital will allow dcs plus to better respond to international TMCs’ challenges and needs by launching new technological platforms for this segment. dcs plus will enable the simplification of the self-booking flow and will improve the overall travel experience for the modern business travelers.” said Dan Lupu, Partner with Earlybird Venture Capital and member of dcs plus Supervisory Board.

The funding will also support the company to expand its distribution more rapidly in new markets. “We plan to strengthen our presence in existing markets and to expand our international operations in new regions. Our focus areas for the following period are represented by the Middle East, Central and North Africa and Southeast Asia – these being key regions, full of opportunities and with an increased appetite for scalable travel technology”, added Cristian Dinca.

The first step in this expansion strategy is the opening of a new office in Dubai during Q2 2017. The opening of the new office will allow dcs plus to better serve travel agencies in GCC countries. In the last period, large travel agencies from Middle East have joined dcs plus customers’ portfolio.

ABOUT DCS PLUS
dcs plus is a leading travel technology company, committed to designing and developing enterprise technology solutions for the travel and tourism industry. It is the only company in the travel sector that has its own full software stack addressing the needs of all types of travel operators: TMCs (Travel Management Companies), DMCs (Destination Management Companies), tour operators, OTAs (Online Travel Agencies). Founded in 2002, dcs plus has a portfolio of hundreds of customers in more than 45 countries. dcs plus has significant multi-GDS integration experience, and distribution agreements and partnerships with Amadeus, Sabre and Travelport. Having an in depth understanding of the current distribution landscape, dcs plus also developed technologies that provide direct access to Lufthansa Direct Connect and Emirates Direct Connect. dcs plus products are used by many members of global Travel Management Companies (TMCs) including Lufthansa City Center, BCD Travel, Egencia, GlobalStar, HRG, FCM Travel Solutions, Radius Travel, American Express and Uniglobe.

ABOUT EARLYBIRD
Earlybird is a venture capital investor focused on European technology companies. Founded in 1997, Earlybird invests in all growth and development phases of a company. Amongst the most experienced venture investors in Europe, Earlybird offers its portfolio companies not only financial resources, but also strategic and operational support as well as access to an international network and capital markets. With over EUR 850 million under management, six IPOs and 22 trade sales, Earlybird is one of the most successful venture capital firms in Europe.
Further information is available at: www.earlybird.com, Twitter: http://www.twitter.com/EarlybirdVC. LinkedIn: www.linkedin.com/company/earlybird-venture-capital or Facebook: www.facebook.com/EarlybirdVC.