Selfbook Hotel Payment Software Valued at $300M After Series A Expansion | Business
NEW YORK–(BUSINESS WIRE)–March 8, 2022–
Selfbook, a unique and comprehensive hotel payment software, today announced that it has completed a $15 million extension of its Series A funding, led by Tiger Global, with new strategic hotel partners, including family office JAWS. by Barry Sternlicht. This brings the total Series A funding to $40 million, with a valuation of $300 million, a 2.4x increase from last quarter.
Selfbook will use the recent funding to continue to grow the team, evolve its product portfolio, and create embedded fintech opportunities in the hospitality industry. This extension highlights Selfbook’s continued growth rate over the past year and follows the closing of a $25 million Series A funding round in October 2021, led by Tiger Global, with the participation from Lachy Groom, Valia Ventures, Fin Venture Capital and strategic angel investors.
Since its launch in April 2021, the Selfbook team has grown from five to 70 employees, with nearly 100 hotels integrated. This new capital marks a 38x valuation increase just six months after Selfbook’s funding round closed.
“We are grateful for the incredible response to Selfbook from investors looking to strengthen the hospitality industry during times of recovery and growth,” said Khalid Meniri, Co-Founder and CEO of Selfbook. “This expansion cycle has given us the opportunity to tap into strategic hotel partners who recognize Selfbook’s value proposition not only for boutique hotels but also for global hotel brands. With this new investment, we can boost our R&D to develop more new innovations and products for our partners and scale without dependencies. »
Selfbook enables hotels to accept one-click payments directly on their websites while eliminating fraud and improving the user experience. The proprietary software streamlines the payment process for hotels by supporting Apple Pay, Google Pay and PayPal, as well as traditional credit and debit cards. Selfbook also consolidates multiple services such as restaurant reservations, spa appointments, and activities into one payment flow to easily generate upsells and increase revenue.
As today’s consumers expect and depend on mobile and digital wallet payments, Selfbook offers new opportunities for hotels recovering from the devastating effects of COVID-19. This performance is driven by a modern, secure and unified payment experience that sets new standards and embraces the values travelers have come to expect: simplicity, flexibility and privacy.
“Selfbook’s secure and easy-to-use plug-and-play software supports multiple payment types and can be customized to meet the unique needs of every hotel, from boutique hotels to global chains,” said Partner Alex Cook. , TigerGlobal. “We wanted to double down on Selfbook after hearing the enthusiasm from their hotel customers and seeing the rapid and continued growth over the past few months. We are excited to continue our partnership with the Selfbook team as they streamline the hotel booking experience.”
Selfbook is a comprehensive transaction engine that is transforming the hospitality landscape by making hotel payments from any direct touchpoint unprecedentedly simple and fun. The technology-first platform is removing barriers to direct bookings, helping propel the industry forward and giving hotels better ways to reconnect with their guests. Working in tandem with existing hotel reservation systems, Selfbook simplifies the booking process to accept one-click payments, increase conversions and increase revenue. To learn more about Selfbook, visit selfbook.com
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CONTACT: Heather Shimokawa
KEYWORD: NEW YORK UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: SOFTWARE NETWORKS ACCOMMODATION FINANCE TRAVEL DATA MANAGEMENT PROFESSIONAL SERVICES TECHNOLOGY
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PUB: 08/03/2022 11:30 a.m. / DISC: 08/03/2022 11:32 a.m.
Copyright BusinessWire 2022.