The innovative business travel company Tumodo, which was established in 2023, has revealed that it has raised $35 million in a pre-seed round that was co-led by angel investors with a focus on the MENA region. The company’s presence in the UAE market, ongoing product development, and new partnership opportunities in the MENA market will all be bolstered by this funding. Additionally, the company intends to expand its platform to 25 additional countries globally by 2026.
The global business travel market is predicted to reach $1.4 trillion by 2024, returning to pre-pandemic levels, from $933 billion in 2022 to $933 billion in 2022, according to the Global Business Travel Association. The market for business travel in the MENA region is also rebounding at the quickest rate and has already reached 86% of its 2019 levels in 2022.
Tumodo stays ahead of the curve by making it simple for companies to reserve hotel rooms and flights for hundreds of employees in under two minutes. Unlike rival platforms, the Tumodo platform doesn’t charge unexpected fees to users, giving companies more control over spending and operational transparency. Additionally, the business is working on an AI feature that will streamline the planning process for travel. The technology from Tumodo can be incorporated into HR systems used by businesses, simplifying internal process management.
“Tumodo is the future of business travel,” said Stan Klyuy, Chief Commercial Officer of Tumodo. “It is important for us to contribute to the MENA business travel market and make its recovery not only one of the fastest in the world but also to make this market the most technologically advanced. We help companies set up business processes and optimize the management of travel expenses, enhancing employee productivity and ensuring compliance with travel policies. This allows to reduce the costs on business travel of our clients by 35% on average.”
Tumodo is already backed by more than 100 MENA-wide companies and has connections to all of the main hotel chains and distribution networks. working together with more than 400 airlines globally. Over 2 million lodging options are offered to users by Tumodo, which is also integrated with major global travel agencies.
Tumodo’s customer-focused approach and state-of-the-art technology position it to become the premier business travel platform in the Middle East and North Africa (MENA) region. Although the company aims for a 100% adoption rate, Tumodo’s help center specialists are always available to offer guidance on trip planning and option selection. The organization is dedicated to helping companies of all kinds accomplish their travel goals while optimizing their return on investment.
The World Travel & Tourism Council found that spending on business travel exceeded spending on leisure travel even during the pandemic years. Depending on the region, the business travel market grew at a rate of 1–10% faster than the leisure travel market in 2021–2022. Based on the research, this disparity approaches 15% in the Middle Eastern market. Tumodo’s solutions are prepared to support the expansion of the market by modernizing and streamlining the travel planning process.
