Katanox, an Amsterdam-based startup that facilitates direct B2B distribution of travel accommodations and payments, announced it has secured a license from the Dutch National Bank to offer regulated payments services across the European Economic Area.
This means accommodation providers and buyers can book and transact via direct bank payouts all within one platform instead of more expensive virtual credit cards, according to the company, one of PhocusWire’s Hot 25 Travel Startups for 2024.
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With the process streamlined within Katanox’s platform – from distribution and booking to automated commission reconciliation and payouts – every penny within the transaction is accounted for, negating the need for virtual credit cards that can come with high fees, Katanox co-founder Paul Beukers said.
“The granting of this license is an enormous next step in our one platform approach to provide accommodation buyers and sellers the most efficient and cost-effective products to distribute and transact properties and rooms,” Beukers said. “This is simply the beginning as we will expand our payments offerings into more markets and build more products both horizontally and vertically to deliver unprecedented opportunities to the hospitality industry.”
The company, which was founded in 2020, raised $5.7 million in a seed round in May 2022. Last October it partnered with TrustedStays to provide a new distribution option for the United Kingdom-based short-term accommodation provider.