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Tumodo Secures $35 Million To Transform MENA Business Travel
The B2B travel platform combines data science, user-friendly design, and world-class service to bring businesses and employees the best travel experiences.
Tumodo, an innovative business travel platform founded in 2023, has announced the successful completion of a $35 million pre-seed funding round, co-led by prominent angel investors focused on the MENA region.
The substantial injection of capital will serve as a catalyst for Tumodo’s expansion in the UAE market, continued product development, and the exploration of new partnership prospects. Additionally, the company has ambitious plans to extend its reach across 25 countries worldwide by 2026.
Tumodo offers businesses a streamlined solution to book flights and accommodation for hundreds of employees in under two minutes. Notably, the platform provides complete transparency, free from hidden fees, allowing businesses to manage expenses with greater precision. The company is also working on an AI feature to simplify trip planning, offering seamless integration with corporate HR systems.
Stan Klyuy, Tumodo’s Chief Commercial Officer, explained, “[Tumodo’s] mission is to contribute to the MENA business travel market, ensuring not only its rapid recovery but also positioning it as a leader in technological innovation. We facilitate the establishment of efficient business processes, optimize travel expense management, and bolster employee productivity while ensuring compliance with travel policies. On average, our clients achieve a remarkable 35% reduction in their business travel expenses”.
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Tumodo has already gained the trust of over 100 businesses in the MENA region, boasting connectivity to major distribution channels, global hotel chains, and collaborations with over 400 airlines. In addition, Tumodo’s support specialists are available to assist in trip organization, helping to meet travel objectives while maximizing return on investment.
According to the World Travel & Tourism Council, even during the pandemic, business travel expenditures surpassed leisure travel spending. During 2021-2022, the growth rate of the business travel market exceeded that of leisure travel by 1-10% in many regions, reaching nearly 15% in the Middle East market.