Selfbook is a developer of a hotel payment software startup based in New York. The company’s platform empowers hotels to accept a one-tap payment system. They are supporting all global credit and debit card brands and digital wallets, and alternative payment methods. It removes barriers to direct bookings, enabling hotels to drive better conversions, capture mobile bookings, boost revenues, and unify the payment flow by effortlessly connecting all their existing reservation systems. As a result, the customers have the easiest and safest way to pay for a hotel stay.
Selfbook was funded $25 million, which values the company at $125 million and raises its total funding to $30 million. This new investment led by Tiger Global Management, Valia Ventures, Fin Venture Capital, early Stripe employee turned investor Lachy Groom, and strategic angel investors participated in the financing.
The new financing intends to use additional hiring employees to expand partnerships with fintech partners and existing hospitality systems.
Selfbook, launched in April 2021, enables hotels to accept one-click payments directly on their websites while eliminating fraud and reducing chargebacks. The proprietary software streamlines the payment process for hotels by supporting Apple Pay, Google Pay, and PayPal as traditional credit and debit cards.
This company also groups multiple services such as restaurant reservations, spa appointments, and activities into a single payment flow to drive upsells and increase revenue quickly. The startup has seen a “10x” increase in Selfbook users using single sign-on and digital wallets in the past six months. Additionally, 67% of bookings were using digital wallets on mobile.
With today’s consumers expecting and relying on mobile and digital wallet payments, Selfbook gives hotels new opportunities to recover from the pandemic’s destructive effects. This performance driven by a modern, secure, and unified payment experience that encompasses new values travelers have now come to expect — simplicity, flexibility, and privacy.
Alex Cook, Partner in Tiger Global, said they are excited to back the Selfbook team as they modernize the hospitality system experience, increase conversion for hotel operators, and improve guests’ booking experience. In addition, they believe Selfbook well-positioned to rapidly grow share based on the positive customer feedback and a robust pipeline of hotel partners.
By: K. Tagura
Author statement:
Funded.com is the leading platform for accredited investors network worldwide. We monitor and provide updates on important funding events. Angel Investors and Venture Funding can be a key growth for a startup or existing business. Whether it is a first, second or third round financing having a strategic alliance with an Angel Investor or Venture Capital financing can propel a business to the next level and give the competitive edge.
Rss Feed
