Selfbook, a New York-based unique and comprehensive hotel payment software that transforms the hospitality payment landscape by making hotel payments delightful and straightforward, has recently picked up $25 million in an oversubscribed Series A funding round. The round increased the valuation of the company to 15x in just three months since it raised the seed round, thereby surpassing expectations.
Tiger Global Management headed the round along with early Stripe employee turned investor Lachy Groom, Fin Venture Capital, Valia Capital, and strategic angel investors.
With this round, the overall equity capital raised by the company accounts for nearly $30 million. Also, a slew of existing investors, including Abstract Ventures, Better Tomorrow Ventures, 9Yards Capital, and TenOneTen Ventures took part in the round to support Selfbook.
Founded in 2020 by Khalid Meniri — who previously worked in app development for organisations including Harper’s Bazaar, Moda Operandi, and Unilever — Selfbook intends to transform the travel industry.
The founder story from Algeria to NYC
Migrating from Algeria to New York City at the beginning of his career, Meniri was into streamlined design upon learning about the Apple Store. Starting as a UX architect and designer, he finally founded his first company, SixAgency, to improve smartphone e-commerce practices.
And then eventually, he founded Selfbook to bridge the gap between modern, mobile-savvy travellers and hotels losing revenue to online travel agencies.
A B2B fintech platform for seamless hotel payments
Selfbook creates a seamless experience that never redirects customers nor detracts from the magic of planning a vacation—for hotels, installing secure payment technology into their reservation method — as simple as installing a single line of code.
Selfbook’s continual and rapid growth and proprietary software has helped it grow a list of well-known clients, including Eden Rock St Barths, Le Pigalle, Line Hotels and a lot more. Having a slew of illustrious clients, there is further evidence that the hotel payments industry is moving in a new direction.
‘Shopify for Travel’
Dubbed as the ‘Shopify for Travel’, Selfbook enables hotels to accept one-click payments directly on their websites. What’s more interesting is that it eliminates fraud and minimises chargebacks. The company’s proprietary software streamlines the payment process for hotels by supporting a slew of payment services such as Google Pay, PayPal, and Apple Pay and traditional debit and credit cards. The comprehensive hotel payment software groups multiple services including spa appointments, restaurant reservations and activities into a single payment flow to drive upsells and increase revenue.
Secure, unified payment experience
In the current era, consumers expect and rely on digital payments. Selfbook gives hotels a new opportunity to recover from devastating effects put forward by COVID-19. The performance is driven by a secure, modern and unified payment experience, which encompasses new values that travelers expect – privacy, flexibility, and simplicity.
The technology-first platform removes barriers facilitating direct bookings and helps propel the industry forward and enables hotels with better ways to connect with guests. With one-click payments, Selfbook increases conversions and boosts revenue for hotels.