A convertible note to the tune of €114 million has been secured by GetYourGuide in a bid to "cement its market-leading position" when demand returns after the COVID-19 pandemic.
The round was led by Searchlight Capital and backed by a string of other finance houses and the Germany-based company's founding team.
The backers include SoftBank Vision Fund, KKR, Battery Ventures, Highland Europe, Spark Capital, Lakestar, Heartcore Capital and NGP Capital - all previous investors in GetYourGuide.
GetYourGuide co-founder and CEO Johannes Reck says: “As the global tourism industry prepares to rebuild, GetYourGuide’s mission to give the whole world access to incredible experiences matters more than ever. This new financing is a vote of confidence in GetYourGuide's readiness to lead the recovery of global tourism.”
News of the round comes two weeks after around 90 employees at GetYourGuide were let go as part of a program to reset the business in the midst of ongoing uncertainty in the travel industry.
The figure represented around a seventh of the overall headcount at the company.
The company had previously outlined in April how it had put a plan in place to avoid layoffs.
GetYourGuide bagged $484 million in May 2019, bringing its total funds raised at the time to over $650 million.
One month before GetYourGuide closed its big round, Hong Kong-based competitor Klook raised another $225 million.