Cairo-based traveltech startup Tripdizer plans to invest the $300 000 seed round it announced that it had raised last week, on developing its platform and building its brand name.
Tripdizer’s platform helps users choose, plan, book and pay for trips. It does this by using machine learning to understand user’s preferences, needs and budgets. The startup was founded in 2017 by Ziad El Adawy, Yara Yehia, Sameh Saleh, Hatem Ayoub and Mohamed Mostafa.
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The round was led by 500 Startups through its 500 Falcons Middle East and North Africa (MENA) focused fund with the participation of angel investor Jamal El Dabal and Innoventures.
Tripdizer was founded in 2017 and was part of 500 Startup’s MENA Dojo accelerator
El Adawy responding to questions last Friday (8 November) said the round — which includes $150 000 the startup raised from 500 Startups as part of its participation in the third cohort of the VC’s MENA Dojo accelerator — was concluded in August.
“This is the total amount of funding we have officially raised aside from money that were put in by the founders in the beginning,” pointed out El Adawy.
El Adawy said Tripdizer’s revenues and users have been growing. Without disclosing any figures, he said the startup has tripled the revenue it generated last year and plans to release a new product next month that he expects will increase sales next year.
Tripdizer sees Africa as an important market and has plans to expand on the continent. El Adawy explained that this is because more people on the continent are travelling abroad as their incomes rise.
Africa, he added, is becoming one of the “hot travel destinations” and inbound travel will serve the continent well.
“We will also be expanding in the MENA region, as it is the fastest growing market for outbound travels in the world and technology adoption is high, our product fits perfectly for both regions and we want to be at the forefront of the travel industry in both regions,” he said.
‘Significant growth in MENA online travel market’
Sharif El-Badawi, 500 Startups MENA managing partner, said in an earlier statement that the MENA region has seen “significant growth” in the online travel market.
He attributed this to tech savvy consumers who are now looking for an overall travel booking experience where they want to plan and book their accommodation, tickets, tours and activities all on one common platform.
El-Badawi said in such a market Tripdizer is “strategically positioned” to change complicated and intricate travel plans into an exciting, comfortable and memorable travel experience.
“Tripdizer has been growing steadily at 30% month-on-month, successfully increasing the customer base to thousands of travelers.
“We are pleased to have led this funding round and look forward to working closely with this remarkable team as they advance to the forefront of the travel industry,” said El-Badawi.
Tripdizer was earlier this year recognised by the UN World Trade Organisation (UNWTO) and the Egyptian tourism ministry as one of the most innovative travel startups in the region.
Featured image: Tripdizer team (Supplied)
