Selfbook raises $25M in quest to reinvent hotel payments

New York-based Selfbook, a hotel payment software startup, has raised $25 million in Series A funding at a valuation of $125 million.

The round was lead by Tiger Global Management, with participation from Valia Ventures, Fin Venture Capital, investor Lachy Groom and angel investors. The company raised a $2 million seed round in Q2 of this year, and those investors, including Better Tomorrow Ventures, Abstract Ventures, TenOneTen Ventures and 9Yards Capital, also participated. 

Launched in April 2021, Selfbook says its software enables hotels to accept one-click payments on their websites while eliminating fraud and reducing chargebacks. 

The system supports Apple Pay, Google Pay and PayPal along with traditional credit and debit cards. Using Selfbook, hotels can also allow guest to pay in installments, and the system is integrated with partners such as SevenRooms, Mindbody and SynXis to unify multiple charges, for example from a hotel’s restaurant, spa and activities, into a single payment flow.

Selfbook’s direct booking links can also be shared through Instagram, Google and email to enable instant bookings. The company says its software increases average order value through upsells, add-ons and optimization of room type, rate and calendar display configurations. 

“We’re excited to use these new resources to further innovate our platform, continuously improve user experience and implement the fastest-growing digital wallets and payment methods,” says Khalid Meniri, co-founder and CEO of Selfbook.

“Being at the intersection of fintech and hospitality, we’re bringing what’s already mainstream in other verticals such as the simplicity of Apple Pay, Amazon’s 1-Click Checkout or Buy Now Pay Later to the travel industry, which remained archaic. We are committed to empowering hotels all over the world, especially at this crucial time of recovery in the industry.”

Selfbook’s clients include Eden Rock St. Barths, Le Pigalle and the Line Hotels. This round brings its total funding to $30 million and represents a 15X increase in valuation since the closing of the seed round.

“We are excited to back the Selfbook team as they modernize the hotel booking experience, increasing conversion for hotel operators and improving the booking experience for guests,” says Alex Cook, partner at Tiger Global. 

“We believe Selfbook is well-positioned to rapidly grow share based on the positive customer feedback and strong pipeline of hotel partners.”