Hotel booking software Selfbook Adds $25M making the total valuation $125M, head funding comes through By Tiger Global Management.
Other investors who participated in the series were Fin Ventures, Valia Vent, lachy groom, and others. With this, the company now values at over $125M.
Khalid Merani said that this investment in the company is a sharp 16 times increase as compared to its first investment of $2M. Other investors such as Abstract Vent, 9Yard, and others actively participated.
Fraud and non-payment occurrences are decreased via the Selfbook app. Customers can pay their hotel management with a single click. The European Union and the United States of America are the company’s two main target markets.
It ranges from states Austin to Los Angeles to Texas. The app has hundreds of hotels in its Booking reach.
As per the data, there has been a very significant rise in the use and trust of customers with the app. The data analysis shows that there’s a sharp rise of 10x when it comes to Booking and over 70% of users are using their mobile phone apps to book hotels. With this, the company has clear potential.
The app approves digital payment use. Over 68% of users used digital payments using means such as Google Play, ApplePay, PayPal, etc.
Selfbook Series $ 125M Funding
As per the selfbook with the help of their one-way payments, hotel admin will get payments within one click without much effort via the digital payment section – with this ease there are less to no chances of fraud or scams.
The company was founded in late 2020 in the month of September. The company is known as Shopify for Travel. Software developers are working on constantly improving their customer experiences.
SelfBook was founded in September 2020, and its first hotel was made available in April of the following year. The business has now contracted with approximately 100 hotels. Twenty of them have already begun to operate.
The best thing about the app is that it can have multiple options starting from the facilities of the spa to the gym too much more. With a single click, one can pay and avail facilities they want to have. This not only attracts more people to use the
not only makes more people visit hotels and actively choose them over others, but it also tremendously benefits hotel owners.
The company now has more than 70 employees who work all time. When the startup began it had only two members and four at the beginning of 2020.
With this, startups are creating jobs every year. With new investments, the company plans to further increase the size of its workforce. The company also plans to expand current additional hospitality features.
Back then this startup used to be operated as a B2C Business that would let users reserve hotel rooms using other platforms. Customers won’t have to wait thanks to the new app’s several capabilities that allow hotel operators to refresh their inventory of rooms.
“During the second and third wave of covid19 pandemic – we were hit incredibly. The business overall saw a drop and especially our hospitality one, then we decided to give access to everyone and that helped in our favor,” Meniri stated.
“We rebranded our app to directly give payment to the hotel managers” and hence we made gains during the pandemic by helping people in need.
Usually, in the hospitality business, there’s very bad quality of the transaction processing, this evades with the help of self-book.
Self book essentially transforms the entire process of reserving a hotel and opens the door to convenience
Many people have reported that their experiences with other hospitality apps have been upsettingly devastating. However, with self-book, it’s surprising to see how technology is being used for the betterment of society and people.
Selfbook is not only changing and revolutionizing the hotel booking experience, but it also has the potential to increase the capital of the hotel owners and increase the number of visitors.
Recent investment in selfbook is $25M.
The total valuation of the company is up to $125M
Khalid Merani is the founder of Selfbook.
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