Financing led by Tiger Global, with strategic hotelier partners including JAWS, the family office of Barry Sternlicht, demonstrates rapid growth and adoption
NEW YORK–(BUSINESS WIRE)–Selfbook, a unique, comprehensive hotel payment software today announced it has completed a $15M extension of its Series A financing, led by Tiger Global, with new strategic hotelier partners including JAWS, the family office of Barry Sternlicht. This brings the total Series A funding to $40M, with a valuation of $300 million, an increase of 2.4x in the last quarter.
Selfbook will use the recent funding to continue to grow the team, evolve its product portfolio and build embedded fintech opportunities in the hospitality vertical. This extension highlights Selfbook’s continued growth rate over the past year, and follows the closing of a $25m Series A round in October 2021, led by Tiger Global, with participation from Lachy Groom, Valia Ventures, Fin Venture Capital and strategic angel investors.
Since its launch in April 2021, Selfbook’s team has grown from five to 70 employees, with nearly 100 hotels onboarded. This new capital marks a 38x valuation increase only six months after the close of Selfbook’s seed round.
“We are grateful for the incredible response to Selfbook from investors seeking to bolster the Hospitality industry in a time of recovery and growth,” said Khalid Meniri, Co-Founder and CEO of Selfbook. “This extension round afforded us an opportunity to bring on strategic hotelier partners who recognize the value proposition of Selfbook not just for boutique hotels but also for global hospitality brands. With this new investment we can supercharge our R&D to further develop new innovations and products for our partners and to scale without dependencies.”
Selfbook enables hotels to accept one-click payments directly on their websites while eliminating fraud and elevating the user experience. The proprietary software streamlines the payment process for hotels by supporting Apple Pay, Google Pay and PayPal, as well as traditional credit and debit cards. Selfbook also groups multiple services such as restaurant reservations, spa appointments and activities into a single payment flow to easily drive upsells and increase revenue.
With today’s consumers expecting and relying on mobile and digital wallet payments, Selfbook provides new opportunities to hotels recovering from the devastating effects of COVID-19. This performance is driven by a modern, secure and unified payment experience that sets new standards and encompasses the values travelers have now come to expect — simplicity, flexibility, and privacy.
“Selfbook’s secure and easy-to-use plug-and-play software supports multiple payment types and can be customized to meet the unique needs of each hotel, from boutique hotels to global chains,” said Alex Cook, Partner, Tiger Global. “We wanted to double down on Selfbook after hearing the excitement from their hotel customers and seeing the continued rapid growth over the past several months. We are excited to continue our partnership with the Selfbook team as they streamline the hotel booking experience.”
Selfbook is a comprehensive transaction engine transforming the hospitality landscape by making hotel payments from any direct touchpoint unprecedentedly delightful and simple. The technology-first platform removes barriers to direct bookings, helps propel the industry forward and empowers hotels with better ways to reconnect with their guests. Working in tandem with hotels’ existing reservation systems, Selfbook simplifies the booking process to accept one-click payments, increase conversions and boost revenue. To learn more about Selfbook, please visit selfbook.com