Selfbook Raises $15 Million in Series A Extension; Plans to Enter the Fintech Market

Leaving what you have known for practically your whole life is one tough task, but as we know, it’s very much a necessity. You see, replenishing that knowledge pool time and time again is the only way through which we can effectively keep our ideas fresh. Now, when you are able to carry out the said procedure rather consistently, what happens is that you eventually segway into a better version of yourself. Nevertheless, considering the journey is so tricky, there has to be some rewards, right? Well, we have got plenty, but a closer look will reveal how none of them get anywhere near technology. Technology’s high stature among the modern generation is largely born out of the effortless approach it took to remodeling our lives. While we did face some notable challenges in making the switch on a grand scale, they will all prove worthwhile. In fact, the validation for technology is going to arrive in countless disguises, with each one more significant than the last. However, despite securing some outright ridiculous achievements, the creation will continue climbing up the ranks. This relentlessness has now created a world where we are capable enough to eliminate any imaginable wrinkle from our fabric, and yet a recent funding does everything to hint towards even brighter horizons.

Selfbook, a hotel payment software provider, has officially completed $15 million extension of its Series A financing. Like the previous $25 million Series A segment, which was conducted last year in October, Tiger Global Management led the recent extension as well. Beyond that, the round saw close participation from JAWS Estates Capital. According to certain reports, the latest cash injection has bolstered the company’s valuation to a staggering $300 million. You really gain a perspective on Selfbook’s growth once you realize that the company was valued at $125 million just five months ago. Describing itself as the Shopify for travel, the New York-based startup enables hotels to accept one-click payments. By doing so, it not only makes the process more direct, but it also cuts back dramatically on possible fraud and chargebacks. If we are to put some stock in Selfbook’s claims, the company’s payment technology is the only system for hotels that works seamlessly with digital wallets. At present, it supports Apple Pay, Google Pay, and PayPal. Selfbook has even embraced the BNPL dynamic, while still keeping traditional debit and credit cards in the mix.

As far as the new funding is concerned, the company plans on using it to foster strategic partnerships in fintech market. Selfbook is also working towards the launch of its extension product, PayBox, which will open up the possibility of installing payment on existing checkout flows.

“By introducing our technology, these fintechs are allowing us to speak with larger chains,” said Khalid Meniri, founder and CEO of Selfbook. “And that gets us excited from a growth and credibility perspective as well as giving us market recognition with some of these large, established fintech public companies supporting and vouching for us, and acting as our sales people.”

 

 

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