BizAway raises 10 million Series A round led by Gellify, Azimut Digitech Fund and Exor Seeds04/20/2022
Series A! We are proud to announce that BizAway, the tech multi platform that simplifies business travel, has closed a EUR 10 million funding round.
Following two previous rounds raised in 2020 for a total of 4.5m€, the “series A” for the scale-up is led by Gellify, Azimut Digitech Fund and EXOR Seeds, leading venture funds in the tech space, who are entering the equity along with other international investors. MundiVentures, the only institutional investor already present in the company’s cap table, is also reinvesting significantly along with the other existing investors: all of them are impressed with the results obtained by the scale-up, which has been able to navigate the difficult waters of a pandemic that has brought the entire sector to a standstill. BizAway has grown in recent years in both economic and employment terms, proportionally more than any other business travel player, thanks to the strength of the innovation that makes it possible to manage the complexity of business travel for large companies, giving them a complete, serviced and simplified experience.
2022 is already a year of milestones for BizAway:
- In January, it officially became the first TMC dedicated to business travel to obtain the B-Corp seal worldwide, as a confirmation of its renewed commitment to sustainability – a front on which BizAway has been very active since it began operations in 2015, thanks also to the Carbon Offset calculator on the platform which allows people to plant mangrove trees to offset the CO2 produced by their bookings, in partnership with Eden Reforestation Projects and Lufthansa Innovation Hub.
- In February, BizAway was awarded the LUXlife Travel and Tourism Awards 2022 as the Best Travel Booking Solution for 2022.
- In March, for the second year in a row, BizAway stood as the fastest growing company in Europe in the business travel sector according to the prestigious FT1000 ranking by the Financial Times and Statista.
The travel industry has been one of the hardest hit by the pandemic, but BizAway has been able to turn a time of crisis into an opportunity to expand and improve, especially by introducing integrations and implementations such as:
- The travel risk management service in association with Riskline
- The CO2 offset calculator in association with Eden Reforestation Project and Squake
- The integration of Trenitalia and Italo and the possibility to manage all bookings and post booking activities independently on the platform
Together with the opening of a new office in Shkodra (Albania) and the hiring of more than 30 new people, BizAway has undergone a surge that has led the 2021 turnover to more than quadruple. Currently, BizAway employs more than 100 people, in five total locations: two in Spain (Barcelona and Vigo), two in Italy (Spilimbergo and Milan) and one in Albania (Shkodra), as well as colleagues in full remote locations. Since its inception, more than 150,000 bookings have been made with savings of over €3 million for the more than 650 client companies (Scalapay, European Cricket, BDO, Cimolai, Satispay, Perrigo, WeRoad, EJU and many others).
BizAway is a technological platform that manages the organisation of business travel, giving its clients the possibility to automate all the processes and set their own travel policies, book independently without wasting time and, above all, access corporate fares that allow an average saving of 25% on market prices (Read more about the digitalisation of processes and BDO savings here).
“This funding makes us even more solid in the international business travel scene and will allow us to continue implementing our ambitious plan, always improving and integrating new features, while allowing us to invest even more in our team, both technical and operational, and open two more offices in Europe by the end of the year” – said Flavio Del Bianco, CTO and Co-founder.
“BizAway’s strength stands in its strong innovative character that allows it to manage the complexity of business travel for large companies, giving them a complete, serviced and very convenient experience. Today, more than ever, companies need to digitise their business processes for travel and business trips, in order to streamline procedures and allow companies to cut costs without giving up anything” concludes Luca Carlucci, CEO and Co-founder.
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