American Express Ventures and Citi Ventures have exited flight insurance software developer Freebird in an acquisition by Capital One.
Freebird, a US-based travel insurance technology provider backed by payment services firm American Express and financial services group Citi, has been acquired by payment services firm Capital One for an undisclosed amount.
Founded in 2015, Freebird has developed predictive intelligence technology that helps travel agents rebook journeys for customers that have been affected by severe delays or cancellations and switch them to new flights without additional costs.
The service is no longer available to customers. Freebird CEO Ethan Bernstein confirmed…
