This week, travel startups Groups360 and Amenitiz announced more than $65 million in funding.
Travel Startup Funding This Week
Each week we round up travel startups that have recently received or announced funding. Please email Senior Travel Tech Editor Tim Mullaney at [email protected] if you have funding news.
This week, travel startups announced more than $65 million in funding.
>>Groups360, a platform that helps match meeting planners with venues, has secured $35 million in an investment round.
Zigg Capital led the round, with participation from Blackstone Innovations Investments, and New York Hedge fund Fir Tree Partners. They join existing investors Accor, Hilton, IHG Hotels & Resorts, and Marriott International. Learn more via Skift’s story on Groups360.
>>Amenitiz, which brings e-commerce tools to small hotels, has closed a $30 million Series A round of funding.
Eight Roads led the round in the Barcelona-based startup. See Skift’s story about Amenitiz.
>>BookMyForex, a company that lets Indians buy or sell foreign cash currencies, forex cards, process cross-border payments from India to abroad, and buy international SIM cards or international travel insurance, sold a majority stake in the company to TripMoney, the fintech arm of MakeMyTrip Group.
BookMyForex had previously raised about $12 million in funding, according to Crunchbase.
|Groups360||Growth||Zigg Capital||$35 million|
|Amenitiz||Series A||Eight Roads||$30 million|
Skift Cheat Sheet
Seed capital is money used to start a business, often led by angel investors and friends or family.
Series A financing is typically drawn from venture capitalists. The round aims to help a startup’s founders make sure that their product is something that customers truly want to buy.
Series B financing is mainly about venture capitalist firms helping a company grow faster. These fundraising rounds can assist in recruiting skilled workers and developing cost-effective marketing.
Series C financing is ordinarily about helping a company expand, such as through acquisitions. In addition to VCs, hedge funds, investment banks, and private equity firms often participate.
Series D, E, and, beyond These mainly mature businesses and the funding round may help a company prepare to go public or be acquired. A variety of types of private investors might participate.
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Photo credit: Groups360 and Hilton today announced the global launch of GroupSync Engage, the hospitality industry’s first integrated direct booking solution for groups room blocks, across the majority of the Hilton portfolio. Source: Hilton.