American Express invests in hotel payment startup Selfbook

Selfbook, a comprehensive hotel payment software platform and one of PhocusWire’s Hot 25 Travel Startups for 2023, has received a strategic investment from Amex Ventures, the corporate venture capital arm of American Express. The amount of the investment is not being disclosed.

Founded in 2020, Selfbook provides booking and payment solutions to hotels to boost direct conversion, revenue, cash flow control and security. The company raised $25 million in Series A funding in 2021 and then a $15 million extension in early 2022. 

“The American Express brand is synonymous with global travel and payment security, and we are thrilled to have Amex Ventures be part of our investor base,” says Khalid Meniri, co-founder and CEO of Selfbook.

“As hotels around the world continue to use Selfbook to offer a guest-first booking experience and secure payments, the investment from American Express will help us deepen our global presence and provide even more effective payment tools for our partners.”

Hotels use Selfbook’s technology to create a one-step checkout experience on their websites, which can include grouped services such as spa appointments, activities and restaurant reservations in a single payment flow. Its system supports Apple Pay, Google Pay and PayPal along with traditional credit and debit cards.

Along with the investment, Meniri says Selfbook and American Express plan to work together.

“We are still exploring areas to work with Amex, especially around streamlining payments and the ability to help our hotel partners expand their guest offerings such as dining and other services,” he says.

And says Margaret Lim, managing director of Amex Ventures, “We are constantly on the lookout for innovative technologies that enhance and elevate the travel and payments experience. We believe Selfbook is driving hotel bookings and payments into the future with their elegant checkout experience, intuitive user interface, and robust support for modern payment methods preferred by guests through a unified platform that seamlessly integrates with existing hospitality software.”