Dubai-based HolidayMe.com raises $16 million in Series C funding
HolidayMe, the Middle East’s leading Online Travel Agency, has raised $16m in Series C funding from Gobi Partners, Algebra Ventures, Accel Partners, and Global Ventures.
Launched in December 2014, HolidayMe offers on-the-fly customized travel solutions to travelers across the Middle East, aiming to solve specific pain points in the region, such as an inefficient booking process and a lack of dedicated platforms for Muslim-friendly holiday packages and hotels.
The company provides a dynamic packaging solution that enables users to lower costs by building their own package, including flights, hotels, activities, and transport services.
“At Holidayme, we have continued to provide our customers with next-generation technology and user experience for their travel booking requirements. We are focused on providing a niche product carved towards the travel requirements of 1.8 Billion Muslims globally,” said Geet Bhalla, Co-founder and Chief Executive Officer of HolidayMe.
Over the past few years, HolidayMe has experienced phenomenal growth in the Middle East. It has grown substantially in terms of scale and operations, with a GMV growth rate of 127% YoY, and a transactions growth rate of 163% YoY.
“HolidayMe has developed a leadership position in the large and fast-growing Muslim travel online market. The team has the vision, domain experience, and capabilities to become the global leader in that market,” said Tarek Assaad, Algebra Ventures’ Managing Partner. “We are delighted to join our co-investors, who are global leaders in venture investing, in supporting HolidayMe to achieve that goal”.
