New York-based Selfbook, a hotel payment software startup, has
raised $25 million in Series A funding at a valuation of $125 million.
The round was lead by Tiger Global Management, with participation
from Valia Ventures, Fin Venture Capital, investor Lachy Groom and angel
investors. The
company raised a $2 million seed round in Q2 of this year, and those investors,
including Better Tomorrow Ventures, Abstract Ventures, TenOneTen Ventures and
9Yards Capital, also participated.
Launched in April 2021, Selfbook says its software enables hotels
to accept one-click payments on their websites while eliminating fraud and
reducing chargebacks.
The system supports Apple Pay, Google Pay and PayPal along with
traditional credit and debit cards. Using Selfbook, hotels can also allow guest
to pay in installments, and the system is integrated with partners such as
SevenRooms, Mindbody and SynXis to unify multiple charges, for example from a
hotel’s restaurant, spa and activities, into a single payment flow.
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Selfbook’s direct booking links can also be shared through
Instagram, Google and email to enable instant bookings. The company says its
software increases average order value through upsells, add-ons and optimization
of room type, rate and calendar display configurations.
“We’re excited to use these
new resources to further innovate our platform, continuously improve user
experience and implement the fastest-growing digital wallets and payment
methods,” says Khalid Meniri, co-founder and CEO of Selfbook.
“Being at the intersection of fintech and hospitality, we’re
bringing what’s already mainstream in other verticals such as the simplicity of
Apple Pay, Amazon’s
1-Click Checkout or Buy Now Pay Later to the travel industry, which remained
archaic. We are committed to empowering hotels all over the world, especially
at this crucial time of recovery in the industry.”
Selfbook’s clients include Eden Rock St. Barths, Le Pigalle and
the Line Hotels. This round brings its total funding to $30 million and
represents a 15X increase in valuation since the closing of the seed round.
“We are excited to back the
Selfbook team as they modernize the hotel booking experience, increasing
conversion for hotel operators and improving the booking experience for guests,” says Alex Cook, partner at Tiger
Global.
“We believe Selfbook is
well-positioned to rapidly grow share based on the positive customer feedback
and strong pipeline of hotel partners.”