Travel Manager, the owner of corporate booking tool Hotailors, has landed €23 million in fresh funding.
The investment in the Poland-based company has come from DC24 ASI, a previous investor in Hotailors.
The funding will go toward rebranding Hotailors to WorkTrips.com as well as boosting its presence in existing markets and extending the platform to new markets such as the U.S. as well as the Middle East and North Africa.
It will also be used for product development around fintech.
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Filip Bloch, co-founder and CEO of Hotailors, says: “We managed to survive the most difficult pandemic period for the industry. It was a time of major redundancies and restructuring among agents specializing in business travel. We used this time to expand our sales team, develop our technology and IT department and strengthen our visibility.
“We are now seeing an upturn in the market and the return of multinational corporations to business travel. The investment round we have raised will allow us to strengthen our position in international markets where we are already present and to enter new ones, including African countries. It is worth noting that we are currently rebranding to WorkTrips.com and part of the funds raised will be allocated to marketing activities.”
Hotailors, a PhocusWire Hot 25 Startups of 2020 company, closed a seed round of £2.6 million in July 2020.