Sion, a platform that manages commission payments for travel advisors and agencies, has raised $3.2 million in a seed found.
The investment in the U.S.-based SaaS business was led by TIA Ventures with SmartFlyer and Virtuoso also involved.
According to a release, the funding will go towards product development including the creation of automated commission chasing and the launch of a new payment processing system.
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Sion, which launched in 2019, previously secured $1.3 million in pre-seed funding in 2020.
“This funding milestone enables us to double down on our vision to help travel advisors get total visibility across their entire business, and most importantly, get paid,” says Alfons Musry, co-founder and COO of Sion.
“It not only helps to further our commitment to evolve the antiquated ways of the travel agency industry, but it helps speed up our plans to bring more tools and capabilities to the platform and grow our community of users. We’re excited for what the future holds at Sion, especially with the travel industry making such strides since the pandemic.”
Irving Betesh, CEO of Sion, adds: “As a long-time travel advisor, there was limited technology to help agents build successful businesses within the industry. Before Sion, we spent most of our time invoicing and chasing down commissions, which was an all-consuming and tedious process. We’ve created something that makes a significant impact within the industry and improves all aspects of how travel agents run their business, focusing on the back office so they can spend more time closing new business. We’re grateful to have created a platform that empowers travel agents and increases administrative efficiency and profitability.”