Cancelon

Company Overview

Snapshot

Founded in May 2011 by Omer Granot and Efrat Kaul, Cancelon operated with 51–200 employees. The company was acquired by Holisto in August 2020, marking a significant exit in the travel technology sector.

Business overview

Cancelon developed a worldwide marketplace enabling users to buy and sell unneeded hotel reservations. The platform allowed travelers unable to cancel reservations due to lodging provider policies to mitigate losses by selling their bookings. Operating within the Fintech & Insurtech sector, Cancelon served the leisure and traveltech markets, focusing on peer-to-peer transactions within the booking and e-commerce categories.

Strategic signal

In August 2020, Cancelon was acquired by Holisto. This acquisition highlights the consolidation trend within the travel technology and online booking sectors, indicating a strategic move by Holisto to integrate Cancelon's marketplace for non-refundable hotel reservations. For investors, this signals the value placed on innovative solutions addressing common traveler pain points and the potential for exits in specialized niche markets within the broader travel industry.

Company Intelligence Q&A

What is Cancelon's primary business?

Cancelon operates a marketplace where users can buy and sell non-refundable hotel reservations, allowing travelers to recover costs for unused bookings.

When was Cancelon founded and by whom?

Cancelon was founded in May 2011 by co-founders Omer Granot and Efrat Kaul.

What was a significant corporate milestone for Cancelon?

In August 2020, Cancelon was acquired by Holisto, leading to its inactive status.

In which sector does Cancelon primarily operate?

Cancelon primarily operates within the Fintech & Insurtech sector, focusing on the travel and leisure markets.

Where are Cancelon's main offices located?

Cancelon has offices in Ra'anana, Israel, Dover, United States, and London, United Kingdom.