Tumodo raises $35M in a pre-seed funding and expands into Saudi Arabia

Tumodo raises $35M in a pre-seed funding and expands into Saudi Arabia

Tumodo, an innovative business travel platform founded in 2023, announced its expansion to Saudi Arabia today after successfully raising $35M in a pre-seed round co-led by MENA-focused angel investors. The company, poised to take up to 5% market share in the region by 2026, is disrupting the Saudi Arabian business travel market with its cutting-edge platform.

The global business travel market is anticipated to grow from USD 901.53 billion in 2022 to USD 2,518.61 billion by 2032, at a CAGR of 10.82%, according to The Brainy Insights. This growth is fueled by the increasing globalization of businesses and the growing demand for seamless and cost-efficient travel solutions.

Tumodo’s platform combines data science, modern design, and world-class service to make booking business trips a breeze. Businesses can find the best deals on flights, hotels, and other travel essentials with just a few clicks. Tumodo’s transparency regarding fees allows businesses to manage their expenses and increase operation efficiency, while its AI-powered features simplify the trip process and save businesses an average of 35% on their travel costs.

“Tumodo is bringing a new solution to Saudi Arabia that’s set to transform how people travel for business,” said co-founder Vladimir Kokorin. “We are fully dedicated to elevating one of the region’s fastest developing markets and driving it towards the most technologically advanced, in line with Saudi Vision 2030.”

With more than 100 partnerships around the MENA region, 400 airlines, and 2 million housing options, Tumodo is leading the way in the business travel industry, reaching the best ways to organize trips while striving to hit a 100% adoption rate. Tumodo is re-inventing the process of booking business trips so that every employee can plan a trip to any destination in a couple of clicks and easily be there to focus on the most important things.

Looking ahead, global business travel expenditure will surpass pre-pandemic estimations of $1.4 trillion in 2024 and reach nearly $1.8 trillion by 2027. Tumodo is well-positioned to capture a significant share of this growth, driven by its innovative platform, commitment to cost savings, and focus on enhancing the overall business travel experience.

 

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