Travel technology solutions firm, Snowfall, has announced it has bagged new investment and has had a rebrand to drive the brand and its future.
The company has announced it is no longer called Snowfall and is now Junction, the name of one of its core products, and has a new website to boot, at www.junctionconnect.com.
The significant new investment to fuel the brand in its new iteration has been led by Korelya Capital – a French investment company – a major long term investor in the business, with existing and new investors also providing additional support.
A full reset of the business has been in play since January, amid swirling accusations and rumours of unpaid ex-employees and suppliers and lawsuits cropping up.
On LinkedIn, disgruntled posts can be found from individuals claiming to be owed money by the company, having been made redundant after their offices were liquidated in the UK and in Canada, with the US next to reportedly fall.
While Junction boasts new customers that include China’s Oppo and Ragusa Xpress, the ferry line connecting Malta and Sicily, this news comes after insolvencies have been filed to Companies House for its previous legal entities. including Snowfall Services (Yorkshire) Limited.
Alongside the rebrand and investment announcement, the firm has made some major senior appointments which it hopes will set it back on track.
Hervé Gilg, was named as the new deputy CEO, and Matthew Turner, joins as chairman of the Board.
Stefan Cars, CEO, said: “Today, with the announcement of the major new investment, heralded by our re-launch as Junction, we are able to take those learnings and really invest in our commitment to smarter technologies and our focus on creating connected, accessible, and effortless travel experiences. It’s a bold new chapter that builds on our strong foundation, positioning us to lead the future of multimodality in travel.”
He added: “With new capital, new management on board and new clients signed up, we are in a great position to expand our offerings, and solidify our leadership in the travel technology sector.”
Travolution have approached Junction for comment regarding the rising number of claims against Snowfall, its previous legal entity, but are yet to hear anything.