Hopper
Category: AI in Fintech
A mobile travel booking app that uses AI and big data to predict flight and hotel prices, advising customers on the best time to buy. Hopper was founded in 2007. The company is led by Frederic Lalonde. Based in Montreal, Quebec, Canada. Team size: \~1,200. Total funding raised: $740M. Latest round: Series G Extension. Key investors include Capital One, GPI Capital, Goldman Sachs, Caisse de dépôt et placement du Québec (CDPQ), OMERS Ventures, Drive Capital.
- Founded
- 2007
- Headquarters
- Montreal, Quebec, Canada
- Team size
- \~1,200
- Total funding
- $740M
Value proposition
Helping travelers save money by predicting future prices and offering a suite of flexible, fintech-based travel products.
Products and solutions
Flight Price Prediction & Booking, Hotel Price Prediction & Booking, Car Rentals, Hopper Homes (Short-term home rentals), Fintech Ancillaries (Price Freeze, Cancel for Any Reason including hotels, Flight/Disruption Assistance), HTS / Hopper Technology Solutions (B2B white-label portals, commerce, fintech APIs for banks/airlines/OTAs), HTS Assist (autonomous AI voice/chat servicing agent)
Unique value
Hopper operates as a 'mobile-only' platform and has evolved from a fare finder into a travel fintech company. A significant portion of its revenue comes from its unique, data-driven financial products rather than just booking commissions.
Target customer
Price-conscious leisure travelers who book their own trips via mobile devices.
Industries served
Travel & Tourism, Fintech
Technology advantage
Proprietary AI/ML on a massive historical flight and hotel price database for high-accuracy price prediction and dynamic fintech pricing. HTS B2B platform white-labels travel commerce and fintech for banks/airlines/OTAs; HTS Assist adds autonomous AI voice/chat servicing (200+ markets, 30+ languages) with reported ~65% servicing-cost reduction for partners.
How they differentiate
Hopper differentiates through its mobile-only focus, predictive AI for price forecasting ('buy now' or 'wait' recommendations), and a strong emphasis on fintech add-ons that offer users flexibility and price protection, which also serve as a primary revenue source.
Main competitors
Expedia Group, Skyscanner, Google Flights / Kayak
Key partnerships
Capital One (Strategic partnership evolved, Capital One acquired Hopper tech/team for Capital One Travel in Apr 2026, Hopper continues supplying HTS fintech APIs), RBC (Avion Rewards travel portal, Mar 2026), Lloyds (UK travel booking portal, May 2025), CommBank / Commonwealth Bank of Australia (exclusive AU in-app Travel Booking powered by Hopper/HTS), WestJet (Cancel for Any Reason via HTS, May 2026), Avelo Airlines (Disruption Assistance via HTS, Jun 2026)
Notable customers
Notable HTS B2B partners include Capital One, RBC, Lloyds, CommBank (Australia), Trip.com, Uber, WestJet, Avelo Airlines, and Marriott Vacations Worldwide (Abound).
Major milestones
Achieved unicorn status in 2021, Reached a $5 billion valuation in 2022, Launched Hopper Cloud B2B platform (now HTS), Expanded product line to include hotels, cars, and home rentals, Formed strategic partnership with Capital One (2021), Capital One acquired Hopper tech/team for Capital One Travel portal (closed Apr 2026), Hopper remains independent and supplies HTS fintech APIs, Partnered with Lloyds as first UK bank to offer in-app travel booking (May 2025), Partnered with RBC to power Avion Rewards travel portal (Mar 2026), HTS named to Fast Company's Most Innovative Companies in Travel for 2026, Became profitable (CEO stated 2025), Agreed to $35M FTC settlement over alleged hidden fees / Price Freeze misrepresentations (Jul 2026
Growth metrics
Reached $850 million revenue in 2024 (up 21% from $700M in 2023); last known valuation ~$5B (2022 secondary). App has 120M+ downloads. Fintech ancillaries a major margin driver; HTS B2B now drives ~90%+ of revenue/business (up from ~75% earlier). CEO stated company became profitable in 2025. Capital One Travel in-sourcing (Apr 2026) shifted that account from managed platform to API/fintech client.
Market positioning
Positioned as a global travel platform and B2B travel technology provider (HTS), shifting from consumer app focus to powering travel programs for banks, airlines, and travel providers via AI and fintech solutions.
Geographic focus
North America (US/Canada) and expanding globally via HTS B2B partnerships including UK (Lloyds), Australia (CommBank), and other international bank/airline channels.
Patents and IP
Specific patents are not publicly detailed, but their core IP lies in their proprietary prediction algorithms and massive structured travel database.
About Frederic Lalonde
Frederic Lalonde is a seasoned entrepreneur with a strong background in the travel technology sector. He is the co-founder and CEO of Hopper, a mobile travel booking app that has gained significant traction and received numerous awards. Before Hopper, he co-founded Newtrade Technologies, which was later acquired by Expedia. During his time at Expedia, he held the position of Vice President of Hotels. He also has experience as a board member for MakeMyTrip. His expertise lies in entrepreneurship, leadership, and travel technology.
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Official website: https://www.hopper.com
