A hotel payment software Selfbook has raised $25m in a Series A funding round, led by Tiger Global.
Additionally involved with the loans were Gera Ventures, Fin Investment Capital, former Stripe employee turned investor Lachy Groom and “strategic” angel investors.
According to CEO Khalid Meniri of Selfbook, the company’s valuation has increased by 16 times since its $ 2 million seed investment. Investors from the most recent round included Better Tomorrow Ventures, Abstract Venture, TenOneTen Venture, and 9Yards Capital.
Selfbook claims that its software enables hotels to accept “one-click” payments entirely on their websites while reducing fraud and chargebacks.
Selfbook, a B2B travel app, was established in September 2020. It operates at the nexus of hospitality and fintech and bills itself as “Shopify for Travel.” Mentari claims that hotels can quickly integrate technology into their current reservation systems.
The self-hosted website had a hotel as its launch partner in April and currently has set contracts with around 90 hotels. Le Pigalle in Paris, Eden Rock E. Barts, and The LINE sites in Los Angeles, Austin, The state of texas, and Washington, D.C. are some of Selfbook’s clients.
The company has noticed a 10x rise in consumers embracing solo sign-along with digital wallets over the last six to eight months. In 67% of cases, reservations were made using digital wallets.
The self-book asserts that its program is the only hotel payment system that allows the usage of a digital wallet. Additionally, debit and credit card payments are accepted. Mentari declares In addition to “one-click” monthly payment, Selfbook also provides direct scheduling links and clever merchandising elements.
The CEO and co-founder of Selfbook, Khalid Meniri, reaffirmed this. Investors who preferred Tomorrow Ventures and 9Yards Capital were included in this round.
Self Book enables hotels and other hospitality businesses to rapidly accept payments from customers via their websites with just one click. Fraud risk is decreased as a result.
The company, which began operations in 2020, represented a change from previous business software. The New York-based business sees itself as a Shopify-like travel brand.
shows that it is a fintech solution for the hospitality industry. Mentari claims that by using just one program line, hotel companies can quickly apply this technology. According to him, it will aid in enhancing direct booking activity through their reservation systems or websites.
Selfridges opened with just one hotel, but today there are 90. Of those, 15 are active. Austin, Los Angeles, California, Washington, D.C., and Texas are among the customers. Customers include Le Pigalle in Rome and Eden Rock St. Barths. The organization is focusing on the U.S. and EU marketplaces.
In recent years, the number of digital wallets and sign-on has multiplied by 10X. The business claims that 67% of reservations were made using mobile wallets.
The self-book has stated that it is the only method for processing hotel transactions that helps digital wallets ( PayPal, Google Fork out, Apple Pay, and also Buy Now Pay Later).
Additionally, it provides free online gaming and a one-click payment option for all credit cards. cards. Mentari also affirms that the program allows for direct bookings and merchandising.
The application form also unifies additional processes, such as bookings and appointments, into a single workflow. This can increase hotel sales and significantly increase earnings.
Self-Publishing currently has a team of 50 people, and the money may be used to add more. It also intends to grow its alliances with hospitality and finance businesses. In the past, Selfbook handled reservations for 3, 000 hotels in India. using its SIX travel application.
The business also developed its own software. Self-booking, in the opinion of Tiger World-wide partner Alex, Make meals, can improve hotel bookings for both guests and hotel conversions. The issue of self-booking hotels has also been raised by Groom as per selfbook series 125m tigar b2b azevedotechcrunch.
Self-book claims that its software enables hotels to accept payments on their websites with just “one-click,” preventing fraud and reducing chargebacks.
Self-book, a B2B startup based in New York, describes itself as a “Shopify for travel” and claims to be at the crossroads of finance and hospitality.
It was founded in September 2020 as a pivot from a consumer travel app. In order to enhance the guest experience when making a reservation, hotels can apply their technology “with a single collection” of code,” according to Meniri.
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Khalid Meniri, co-founder and CEO of Self book
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