HolidayMe, the Middle East’s leading online travel agency, announced that it has raised $16m in the Series C funding from Gobi Partners, Algebra Ventures, Accel Partners, and Global Ventures.
Commenting on this co-investment, Tarek Assaad, Algebra Ventures’ managing partner, stated that HolidayMe has developed a leading 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,”
“We are delighted to join our co-investors, who are global leaders in venture investing, in supporting HolidayMe to achieve that goal” Assaad continued.
On the other hand, Geet Bhalla, co-founder and CEO of HolidayMe said that HolidayMe has continued to provide its 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,” Bhalla assured.
Launched in December 2014, HolidayMe offers on-the-fly customised travel solutions to travellers 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.
Moreover, over the past few years, HolidayMe has grown substantially in Middle East in terms of scale and operations, with a gross merchandise volume growth rate of 127% y-o-y, and a transactions growth rate of 163% y-o-y.