NAMASTAY ANNOUNCES EUR 2.1 MILLION SEED FUNDING ROUND TO LAUNCH NEW 'ONE-CLICK' BOOKING AND PAYMENT SOLUTION FOR HOTELS
Namastay, the next-generation online booking and payment platform that aims to bring all hotels to the digital age with a fast and fully integrated booking and payment API, today announced the completion of a EUR 2.1 million seed funding round. |
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NAMASTAY ANNOUNCES EUR 2.1 MILLION SEED FUNDING ROUND TO LAUNCH NEW 'ONE-CLICK' BOOKING AND PAYMENT SOLUTION FOR HOTELS
Namastay, the next-generation online booking and payment platform that aims to bring all hotels to the digital age with a fast and fully integrated booking and payment API, today announced the completion of a EUR 2.1 million seed funding round. |
Category: Europe - Suppliers -
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This is a press release selected by our editorial committee and published online for free on 2022-03-22
Investors include prominent angels from the tech and hospitality sector, RockSalt - the venture capital arm of payment service and software provider Saltpay.co - and early stage investor Firestartr.
Namastay will use the funds to strengthen its founding team, build out and deploy its product in France and in Europe, deliver top-quality service to its first customers by optimizing guest booking experience and increasing conversion and revenue for hotels.
“As a group of seasoned technology and hospitality experts and entrepreneurs, we are thrilled to be transforming online bookings and payments for hotels,” said co-founder & CEO Frédéric Robles.
“Our mission is to empower hotels with our one-click technology to directly engage with guests through fast, secure and intuitive digital experiences, from booking and payment to loyalty and insight. We want Namastay to offer hotels the best digital tools to bring customers back to their websites.”
Historically, customers have been reliant on booking hotels through online travel agencies (OTAs) such as Booking.com, which is the leading player in Europe with over 67 per cent of the market share. However, OTAs charge hotels between 15 to 30 percent of a booking’s value.
Recently, there has been a shift in consumer preference towards booking holidays directly with the hotel (instead of using an OTA), with 39 per cent of consumers reporting that they would use this method. This is primarily due to the direct booking method offering flexible cancellation rules, straightforward refund policies, and better pricing.
Namastay is certified by SynXis, one of the leading channel managers for hotels and is therefore compatible with all hotels using SynXis. Namastay’s API is natively integrated on the hotel’s website and significantly streamlines the direct booking and payment process.
For hotels, Namastay is a low-cost, easy to implement, plug and play API. For customers, it enables a slick booking and payment experience, with user-friendly interfaces and a mobile-friendly one-click booking and payment function.
Mobile bookings have grown by 1700% in the last few years, with users being five times more likely to leave a website if it is not optimized for mobile. Namastay can increase the conversion rate on hotel sites by ten to twenty times while providing a tenfold reduction in the direct booking time.
Through its “one-click to your room” technology, the company empowers hotels to offer - on their own website - the best direct booking experience to their guests.
The Namastay founding team includes hotelier Romée de Goriainoff, Fintech founder Alain Falys who launched the payment platform Yoyo Wallet, tech and hospitality investor Axel Wehr and former tech and antitrust lawyer Frederic Robles.ABOUT NAMASTAYNamastay exists to transform online bookings and payments for the hospitality industry. Through its “one-click to your room” technology, the company empowers hotels to offer their guests the best direct booking experience on their own website. Namastay has the ambition to become the preferred online direct booking method for independent hotels and hotel chains by providing a frictionless experience to guests who have taken the habit of using online travel agencies (OTAs) such as Booking.com or Expedia that charge hefty commissions.
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