Tumodo Secures $35M Funding for Global Expansion in Business Travel Revolution
Tumodo, a trailblazing business travel platform founded in 2023, announced it has successfully raised $35 million in a pre-seed round co-led by MENA-focused angel investors.
This funding will fuel the company's presence in the UAE market, further product development, and new partnership opportunities in the MENA market.
Also, by 2026, the company plans to scale its platform to 25 more countries worldwide.
According to the Global Business Travel Association, the worldwide business travel market reached $933 billion in 2022 and is expected to reach $1.4tn pre-pandemic levels by 2024.
Moreover, the MENA’s business travel market is recovering the fastest and, in 2022, has already hit 86% of its 2019 levels.
By staying ahead of the trend, Tumodo 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.
Moreover, the company is currently developing an AI feature that will simplify the process of trip organization. Tumodo’s technology can be integrated into companies' HR systems, making it easier to manage internal processes.
"Tumodo is the future of business travel," said Stan Klyuy, Chief Commercial Officer of Tumodo. "It is important for us to contribute to the MENA business travel market and make its recovery not only one of the fastest in the world but also to make this market the most technologically advanced. We help companies set up business processes and optimize 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% on average."
Already trusted by over 100 businesses in the MENA region, Tumodo 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.
With its cutting-edge technology and customer-centric approach, Tumodo is set to become the leading business travel platform in the MENA region.
The company strives to achieve a 100% adoption rate, but Tumodo’s help centre specialists are always ready to assist in organizing a trip and choosing the best options.
The company is committed to enabling businesses of all sizes to reach their travel objectives while maximizing their return on investment.
According to research by the World Travel & Tourism Council, even in the pandemic years, spending on business travel was higher than on leisure travel.
On average, the growth of the business travel market in 2021-2022, depending on the region, overtook the growth of the leisure travel market by 1-10%.
According to the research, this difference reaches almost 15% in the Middle East market.
Tumodo’s solutions are ready to modernize and streamline the travel organization process to contribute to the market's growth.
Send us your press releases to firstname.lastname@example.org