Israel-based start-up Splitty has raised US$6.8 million in a series A round of funding, led by Fosun RZ Capital, the VC investment arm of Fosun International, and will now expand into Asia.
The other investors who participated in the financing round were 2bAngels, Techstars Ventures, Cockpit Innovation and 11-11 ventures.
Currently, Splitty provides room booking options in Europe and America, but plans to expands its business into Asian markets upon completion of this round of financing.
With the new investment, the start-up will be able to expand its team and accelerate its global market growth in the coming years.
The Israeli startup offers unique hotel prices by taking advantage of splitting and combining multiple bookings under one reservation. Splitty says it analyses and splits over 1.5 million transactions to “create deals in one second”.
Eran Shust, Splitty’s CEO, said in a statement that his company differentiates itself from traditional OTAs through this transaction model, helping to improve hotel occupancy rates by over 15 per cent, while users enjoy up to 50 per cent lower prices.
Founded in 2015, Splitty launched in the market in 2018, after spending three years to develop its product. More than 500,000 properties in 127 countries are using its services today.