Hotel software firm Mews raises another $100 million
26/09/2024 08:13
AMSTERDAM/PRAGUE Sept 26 (Reuters) - Hotel management
software maker Mews said on Thursday it had raised $100 million
in financing from Vista Credit Partners, in Mews' second large
funding round this year, in part to pursue acquisitions.
Mews, founded in 2012, offers software that helps hotels
manage bookings and payments, handle check-ins quickly, adjust
room rates, and manage and sell additional services such as
restaurant meals, conference rooms, parking and tours.
In March it raised $110 million in a round led by investors
including Kinnevik KINVb.ST and Goldman Sachs Group GS.N
that valued the company at $1.2 billion.
It said then that it processes more than $8 billion in
payments annually and was on track for $100 million in annual
revenue.
"The market is ripe for consolidation," founder Richard
Valtr said in a statement on Thursday.
He said Mews had made nine acquisitions previously and it
would use the latest funding to pursue more.
(Reporting by Mehnaz Yasmin in Bengaluru; Editing by Anil
D'Silva and Mark Potter)
((Mehnaz.Yasmin@thomsonreuters.com;))