Travel Manager, the owner of the corporate booking tool Hotelierssecured 23 million euros in new financing.
The investment in the Poland-based company came from DC24 ASI, a former investor in Hotailors.
The funding will be used to rebrand Hotailors as WorkTrips.com as well as to strengthen its presence in existing markets and expand the platform to new markets such as the United States as well as the Middle East and North Africa.
It will also be used for the development of products around fintech.
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Filip Bloch, co-founder and CEO of Hotailors, says: “We managed to survive the toughest pandemic period for the industry. It was a time of significant layoffs and restructuring among business travel agents. We took the opportunity to expand our sales team, develop our technology and IT department and strengthen our visibility.
“We are now witnessing a market recovery and the return of multinationals to business travel. The funding round that we have raised will allow us to strengthen our position on the international markets where we are already present and to penetrate new ones, in particular African countries. It should be noted that we are currently rebranding to WorkTrips.com and a portion of the funds raised will be used for marketing activities.
Hotailors, a PhocusWire Hot 25 Startups of 2020, closed a £2.6m seed round in July 2020.