This Hopper company profile covers the company's valuation, revenue, funding rounds, investors and history. Hopper works in travel technology, with a focus on consumer fintech. It was founded in 2007 and is headquartered in Montreal, Quebec, Canada. Its latest valuation on record is US$5 billion (reported, via a secondary sale) (2022). Every figure links to a public source, and anything the company hasn't disclosed is marked as such.
Revenue
| Metric | Value | As of | Source |
|---|---|---|---|
| IPO ambition | Listing on the TSX and Nasdaq at a valuation of US$5–10 billion, once profitable | January 2025 | The Logic |
| Total funding | More than US$740 million since founding (reported) | 2025 | The Logic |
Funding history
| Date | Round | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| 2022 | Secondary sale | Not disclosed | US$5B (reported) | Not disclosed | The Logic |
| Aug 2021 | Series G | US$175M | US$3.5B | See source | The Logic |
Hopper timeline
Key dates from the sources on this page, oldest first. Metric snapshots are listed after the funding events.
- 2007 — Hopper is founded in Montreal by Frederic Lalonde (CEO) and Joost Ouwerkerk.
- Aug 2021 — Series G: US$175M, valuing the company at US$3.5B.
- 2022 — Secondary sale: Not disclosed, valuing the company at US$5B (reported).
- January 2025 — IPO ambition: Listing on the TSX and Nasdaq at a valuation of US$5–10 billion, once profitable.
- 2025 — Total funding: More than US$740 million since founding (reported).
Investors
Overview
Hopper is a mobile travel booking app from Montreal. It started with a simple promise that made it famous: tell you whether to buy a flight now or wait, based on predictions of where prices are heading. Over time it has grown into a full booking platform for flights, hotels, car rentals and homes, and, more unusually, into a company that sells financial products attached to travel, such as price freezes and flexible cancellation.
Frederic Lalonde and Joost Ouwerkerk founded Hopper in 2007. Lalonde, previously an executive at Expedia, is still CEO. The company spent its early years building data and prediction technology before launching the consumer app that brought it mainstream attention in the mid-2010s.
How Hopper makes money
Hopper earns money in several ways, and the mix is what makes it interesting.
- Booking commissions: like other online travel agencies, it earns a commission or margin when customers book flights, hotels and other travel.
- Travel fintech products: customers can pay to freeze a price, cancel for any reason, change flights more flexibly, or get help if a flight is disrupted. These products carry much higher margins than plain bookings, because Hopper uses its price prediction data to manage the risk.
- Partnerships: Hopper licenses its technology and fintech products to other travel companies and financial institutions, so their customers can buy the same protections.
That last line matters. Selling technology to partners is a business-to-business revenue stream, which investors usually value more highly than one-off consumer bookings.
Funding history
Hopper has raised a lot of money over nearly two decades. Reports put the total at more than US$740 million.
August 2021: a US$175 million Series G that valued Hopper at US$3.5 billion, making it one of Canada's best-known unicorns at the peak of the 2021 boom.
2022: a secondary transaction, in which existing shareholders sold shares to new buyers, valued Hopper at about US$5 billion, according to The Logic. Because it was a secondary sale, the company didn't receive new capital from it.
Other investors named in coverage of Hopper's later financing include Capital One Ventures and GPI Capital. Sources disagree about the exact labelling and timing of some of the later rounds, so we only show the rounds we could confirm in the table above.
Revenue: what we know and our estimate
Hopper doesn't publish its revenue. Third-party databases list a range of figures, but they're modelled estimates and they don't agree with each other, so we don't repeat them.
What we can say comes from the CEO's own comments. In January 2025, Lalonde said Hopper planned to list on the Toronto Stock Exchange and Nasdaq, potentially at a valuation of US$5 billion to US$10 billion, but only once it was profitable and on track for more than US$1 billion in trailing sales. Reading that statement plainly, Hopper's trailing sales were below US$1 billion at the time. That's the basis for the estimate shown above, and it's deliberately conservative.
The IPO question
Hopper is one of the Canadian companies most often mentioned as a future IPO candidate. Its CEO has been unusually open about the conditions: profitability and scale first. That's a sensible stance after the experience of companies that listed in 2021 and then saw their shares fall sharply. It also tells employees and early investors that liquidity is more likely to come through secondary sales than an imminent listing.
Competitive position
Online travel is dominated by very large public companies with huge marketing budgets. Hopper's strategy has been to compete on a different axis: mobile-first design, a younger customer base, and financial products that larger rivals were slower to offer. Its partnership business also turns some potential competitors into customers. The risk is that larger travel platforms copy its fintech features, and that travel demand is cyclical, so a downturn in travel spending would hit bookings directly.
Why Hopper matters for the Canadian ecosystem
Hopper is one of the clearest proofs that a Canadian company can compete in a global consumer category against much larger US rivals. It has also helped build Montreal's reputation as a place to scale a consumer tech company. A large engineering team in Montreal, many of them working on data and machine learning, has spun out talent into the city's wider startup scene.
For founders, Hopper's long path, from founding in 2007 to a multi-billion-dollar valuation, is a reminder that big outcomes can take a long time. Its funding history includes many rounds over many years, which is very different from the fast, concentrated raises of some other unicorns on our Canadian unicorns list.
What to watch next
Three things will shape Hopper's next chapter. First, profitability: the CEO has made it the gate for any listing. Second, the partnership business, because revenue from licensing its technology to banks and travel companies is steadier than consumer bookings. Third, the broader IPO window for consumer tech. If public investors reward travel and fintech companies again, Hopper's timeline could move quickly.
Key facts at a glance
Hopper is a Montreal-based, venture-backed travel app founded in 2007. Its last reported valuation was about US$5 billion in 2022, after a US$175 million Series G in 2021 at US$3.5 billion. It earns money from bookings, travel fintech products and partnerships, and its CEO has tied any IPO to reaching profitability and more than US$1 billion in trailing sales.
What this means if you're…
Selling to Hopper: a large consumer tech company preparing for an eventual IPO typically invests in data infrastructure, payments, fraud prevention, customer support tooling and financial controls.
A travel or fintech company: Hopper's partner program is a route to adding price protection and flexibility products without building them yourself.
An investor or analyst: watch for progress on profitability and the US$1 billion sales threshold, which the CEO has tied directly to IPO timing.
A job seeker: Hopper's equity value depends heavily on whether and when it lists. Ask about secondary sale programs and how the company thinks about liquidity before an IPO.
Latest developments (October 2026)
Hopper was named to Newsweek's first list of America's Best Online Platforms for 2026 in the travel category, according to the company, which also said its price prediction tools have helped travellers save more than US$100 million. The Montreal company continues to sell fintech add-ons such as price freezes and flexible cancellation, and to license its technology to banks and airlines through Hopper Technology Solutions. No new valuation has been disclosed since 2022.
Sources
Every figure on this page comes from the public sources below. Where sources disagreed, we used the company's own announcement or a primary news report. Private-company data changes; check the date beside each figure.
Frequently asked questions
What does Hopper do?
Hopper is a travel technology / consumer fintech company headquartered in Montreal, Quebec, Canada. It was founded in 2007.
What is Hopper's valuation?
Hopper was valued at US$5 billion (reported, via a secondary sale) as of 2022, according to The Logic. Private company valuations are set at funding rounds or share sales and can change significantly between them.
How much revenue does Hopper make?
Hopper has not published its revenue. Our estimate is Below US$1 billion in trailing sales as of January 2025. In January 2025 the CEO said Hopper would list publicly once it was profitable and on track for more than US$1 billion in trailing sales, implying it hadn't reached that level yet.
What was Hopper's latest funding round?
The most recent financing we have verified is a secondary sale in 2022: Not disclosed, at a valuation of US$5B (reported). Source: The Logic.
Who are Hopper's investors?
Investors named in public announcements include Capital One Ventures and GPI Capital.
Who founded Hopper?
Hopper was founded in 2007 by Frederic Lalonde (CEO) and Joost Ouwerkerk.
Is Hopper a public company?
No. Hopper is a private company (private, venture backed), so its shares are not traded on a stock exchange and it isn't required to publish its financial results.
Where is Hopper headquartered?
Hopper is headquartered in Montreal, Quebec, Canada. See our guide to raising money in Canada for context on the Montreal startup ecosystem.