Hungarian RateMate looks to crowdfunding

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Hungarian hotel income optimizer startup RateMate has launched a EUR 100,000 crowdinvesting campaign on the Funderbeam platform as part of a planned EUR 500,000 capital injection project, according to a press statement sent to the Budapest Business Journal.

The firm, founded in 2013, says it aims at providing clear cut, user friendly revenue management tools for hoteliers, making their life easier and helping them significantly increase their revenues, according to its website. It launched Event Intelligence software in 2016, offering hotels help in receiving information about events generating huge traffic. According to the firm, without this optimization, a total of EUR 8 billion revenues is lost in missed opportunities across one year.

“Our existing contracts — among a few with InterContinental, Marriott, Hilton, Hyatt and Kempinski — have been aimed at the North American and European markets. Now, beyond the development of further products, we would like to open to new markets, and for such a capital injection is inevitable,” said Péter Gál, CEO of RateMate.

The company saw 55% growth in the first quarter of this year compared to the last quarter of last year, and was included in Europe’s leading B2B accelerator program Startupwiseguys.

Under the crowdfunding scheme, backers must invest a minimum of EUR 250; once the campaign is closed, the online exchange of the crowdsource platform enables investors to trade their investment shares. 

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