Amsterdam-based startup Mews has secured a significant growth round of $110 million led by Kinnevik, marking a pivotal moment in the company’s trajectory as it aims to capitalize on the resurgence of the global tourism sector. With the funding, Mews now boasts a post-money valuation of $1.2 billion, signifying robust investor confidence in its vision and potential.
The tourism industry has experienced a remarkable resurgence in 2023, surpassing pre-pandemic levels and raking in $2.23 trillion globally. This rebound has spurred a renewed interest in startups focused on enhancing technology solutions for the hospitality sector, positioning Mews at the forefront of innovation in hotel management.
Mews specializes in developing comprehensive SaaS tools tailored to meet the evolving needs of hoteliers and guests alike. Its suite of services encompasses a wide array of functionalities, including front-desk check-in, payment processing, reservations management, and housekeeping coordination. With a focus on enhancing operational efficiency and guest experience, Mews has emerged as a trusted partner for over 5,000 hotels worldwide.
Despite not yet achieving profitability, Mews has demonstrated significant growth and scalability. The company’s gross payment volume has surged to $8 billion, reflecting a substantial increase from $2.3 billion in 2022. Moreover, Mews has expanded its customer base, with more than 5,000 hotel customers onboard compared to 3,253 hotels the previous year.
A key component of Mews’ growth strategy involves strategic acquisitions within the hotel IT space. Over the past year, Mews has acquired eight startups, including notable additions such as Frontdesk Anywhere, Hotello, and Nomi. These acquisitions underscore Mews’ commitment to innovation and its relentless pursuit of excellence in service delivery.
Looking ahead, Mews aims to leverage its market-leading position to drive further innovation and expansion. The company’s founder and president, Richard Valtr, envisions a future where Mews serves as the platform of choice for businesses across various verticals within the hospitality sector. Beyond traditional hotels, Mews seeks to tap into emerging trends, such as the Airbnb effect, by catering to private properties and alternative accommodations.
Valtr emphasizes the evolving nature of real estate, where the boundaries between commercial and residential spaces are becoming increasingly blurred. As the hospitality landscape continues to evolve post-pandemic, Mews remains steadfast in its mission to redefine the way businesses operate in the travel and accommodation space.
In conclusion, Mews’ latest funding round underscores its position as a trailblazer in hotel technology, poised to shape the future of hospitality management in the digital age. With a strong focus on innovation, scalability, and customer-centricity, Mews is poised to lead the charge in revolutionizing the hotel industry for years to come.