Tumodo, a Dubai-based business travel platform, announced raising $35 million in a pre-seed round, co-led by MENA-focused angel investors.
The fresh capital will be deployed to expand the company’s operations in the UAE market, besides for further product development, and new partnership opportunities in the MENA market, Tumodo said in a media statement.
Also, by 2026, the company plans to scale its platform to 25 more countries worldwide.
Stan Klyuy, Chief Commercial Officer of Tumodo, said the company’s aim is to contribute to further development of the MENA business travel market and make its recovery one of the fastest in the world.
“We will also contribute to making the region’s business travel market the most technologically advanced,” Klyuy said.
Tumodo said it helps companies to set up business processes and optimise the management of travel expenses, enhancing employee productivity and ensuring compliance with travel policies.
“This allows to reduce the costs on business travel of our clients by 35 percent on average,” the company said.
Tumodo: Streamlining corporate travel worldwide
The company, founded in 2023, said by staying ahead of the trend, it makes it easy for businesses to book flights and hotels for several hundred employees within just 2 minutes.
“Unlike competitors, the Tumodo platform has no hidden fees for users, allowing businesses to manage expenses and increase the transparency of operations,” it said.
The company is currently developing an AI feature that will simplify the process of trip organisation.
Tumodo, which said its technology can be integrated into companies’ HR systems, making it easier to manage internal processes, is connected to all major distribution channels and global hotel chains.
Collaborating with over 400 airlines worldwide, Tumodo provides customers with over 2 million accommodation options and is integrated with main travel services all over the world, the company said.
According to the Global Business Travel Association, the worldwide business travel market, estimated at $933 billion in 2022, is expected to reach $1.4 trillion by 2024.
The MENA business travel market is also recovering fast, estimated to have reached 86 percent of its 2019 levels in 2022.
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