Otelz positions itself for global growth after $3.8 million in funding
By cameron in Uncategorized
Otelz.com, the Turkey-based accommodation player, has received fresh funding of $3.8 million.
The round was led by Sankonline with Howzat Partners and existing investors also participating in the round.
In a statement, Bertan Aner, CEO of Otelz, says the company has been working on a “new technological infrastructure” to help it achieve a more global reach.
The OTA is also planning a mobile application as well as different language versions of its website and mobile platforms.
In the statement, Aner talks of the need for an internationally recognised player in Turkey as well as the difficulties the business faces in the region which have impacted the market.
He also alludes to Booking.com suspending operations in Turkey and says the Otelz investment will help hoteliers “minimize any losses”.
Booking.com was ordered to suspend some operations in March this year by Turkish authorities over a dispute on whether or not the accommodation giant needs a travel license to operate in the country.
Turgut Konukoğlu, chairman of the board of directors of Sankonline says:
“We have been following the new digital world for a long time and have made investments in various areas. We have been watching the growth of otelz.com and have been impressed by its technology.
“We believe that this new investment will contribute to both the continuing success of Otelz and the growth of Turkish tourism.”
Howzat also participated in Series A funding for Otelz back in 2015.