Selfbook, a Tiger-backed extension that allows hotels to accept ‘one-click’ payments, raises $15 million at a $300 million value
- ByStartupStory | March 9, 2022
Selfbook, a provider of hotel payment software, has closed a $15 million extension of its Series A investment, valuing the firm at $300 million.
The expansion was headed by Tiger Global Management, which also led the company’s $25 million Series A round in October. Selfbook, based in New York, was valued at $125 million at the time, implying a 2.4x gain in valuation from the fourth quarter of 2021 to the first quarter of 2022, and a 38x increase after raising a $2 million seed round in April of that year.
JAWS Estates Capital, the family office of hotelier Barry Sternlicht, is a new strategic investor in the project. Sternlicht is the chairman and co-founder of Starwood Capital Group.
Selfbook, based in New York, describes itself as the “Shopify for travel,” and claims to operate at the crossroads of hospitality and finance. It was founded in September 2020 as a shift from a consumer travel app to a B2B startup.
Selfbook currently has 30 customers on its platform and over 100 hotels onboarded. The business makes money by collecting a one-percentage-point fee on all transactions it facilitates. In the future, it’s feasible that Selfbook will raise this to 2%. This year, the business plans to release PayBox, an extension product that would enable it to integrate payment into existing checkout procedures.
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