AirHelp, an international air passenger rights platform, has acquired Bulgarian ClaimCompass. Both companies are dedicated to helping passengers claim their rights to compensation under EU Regulation 261/2004.
With this acquisition, AirHelp aims to expand its market share. ClaimCompass’ brand will consolidate under their operations.
The terms of the transaction will remain undisclosed.
Strengthening leadership in flight compensation services
Founded in 2013, AirHelp’s team of over 400 people has processed over 16 million claims and helped over 2 million passengers.
AirHelp was part of YC’s W14 batch and is backed by Khosla Ventures.
Bulgarian ClaimCompass was founded in 2015 by Velizar Shulev, Tatyana Mitkova and Alexander Sumin. The startup allows air passengers to receive their up to 700 euro compensation for delayed, canceled, or overbooked flights. Some of their key investors include 500 Startups, Hustle Fund, Good News Ventures and Social Capital.
In 2020, they acquired the US travel app Service. After revamping their claims processing engine and rebuilding the app, they relaunched it later that year. Nevertheless, it faced challenges in the mass adoption due to COVID restricted travel market.
According to their data, ClaimCompass has helped over 500,000 travellers worldwide and processed over $110 million in claims.
