Hotel payment software startup Selfbook on Tuesday (March 8) wrapped up a $15 million extension of its Series A financing round, bringing the total to $40 million for the round and raising the company’s valuation to $300 million, about 2.5 times the valuation it secured late last year.
Tiger Global led Selfbook’s latest fundraising effort, with participation from hotelier partners including Jaws, the family office of Barry Sternlicht, according to a company press release. Selfbook will use the fresh capital hire new employees, evolve its product portfolio and build embedded FinTech hospitality opportunities.
Selfbook’s $25 million Series A funding round in October was also led by Tiger Global, with participation from Lachy Groom, Valia Ventures, Fin Venture Capital and strategic angel investors.
Selfbook has grown from five to 70 employees since its launch in April 2021, with almost 100 hotels using its platform. The Series A extension brings the company’s valuation to 38 times what it was during the close of its seed round six months ago.
Khalid Meniri, co-founder and CEO of Selfbook, said, “This extension round afforded us an opportunity to bring on strategic hotelier partners who recognize the value proposition of Selfbook not just for boutique hotels but also for global hospitality brands.
“With this new investment we can supercharge our R&D to further develop new innovations and products for our partners and to scale without dependencies,” he said.
Selfbook allows hotels to accept one-click payments on their websites while targeting fraud and elevating the user experience. The company’s proprietary software streamlines the payment process for hotels by supporting Apple Pay, Google Pay and PayPal, as well as traditional credit and debit cards.
The platform also groups multiple services — such as restaurant reservations, spa appointments and activities — into one payment flow to increase revenue through upsells.
Hotel guests can pay in installments using Selfbook, and the platform is integrated with SevenRooms, Mindbody and SynXis to unify charges from hotel restaurants, spas and other activities. Selfbook also has direct booking links that can be shared through Instagram, Google and email.