Cape Town-based start-up, Hepstar, has been selected to participate in the world’s largest start-up accelerator program.
Plug and Play is the most active investment organisation in Silicon Valley, with portfolio companies including PayPal, Dropbox and Skytree.
Hepstar, specialists in the distribution of travel insurance via third party websites, was among the top 20 start-ups handpicked for the program from over 1,000 applicants globally.
Hepstar offers travel merchants the benefit of a having a single and central point of call for accessing travel insurance content from multiple providers across multiple residencies and optimises revenue earned from travel insurance sales through the use of innovative e-merchandising.
“We are really excited about this opportunity,” said Hepstar COO Claudia Snyman. “With partners like Turkish Airlines, Carlson Wagolit, TUI Group, Lufthansa and jetBlue Technology Ventures, Plug and Play provides a great opportunity to showcase our capabilities to some of the largest players in the travel sector.”
Hepstar’s footprint already extends across Africa, Europe, Asia, South America and the Middle East. Participation in Plug and Play’s travel accelerator program will enable the SA firm to target North America.
“In regards to new modes of distribution for the travel insurance market, Hepstar’s strategy may be exactly the answer carriers and airlines are looking for,” said Kevin Wang, Head of Travel for Plug and Play Ventures. “Hepstar’s insurance products offer highly specific travel coverage which captures ancillary revenue for our travel partners.”