STOCKHOLM, Feb. 8, 2019 /PRNewswire/ -- The hotel booking platform Nustay offers its customers a large variety of hotel rooms at low prices around the world. By using big data, AI and algorithms, it offers a tailormade booking experience to suit customer preferences. Today, it is announced that the company has completed a successful round of preliminary funding of SEK16.5 million and prepares for a listing on the Spotlight Stock Market this Spring. Nustay is led by entrepreneur Mathias Lundoe Nielsen and Chairman of the board Lone Fønss Schrøder.
The idea behind Nustay came to the founder Mathias Lundoe Nielsen after a trip to Thailand that did not meet his expectations. The trip made him wonder why there wasn't a hotel booking site giving a realistic presentation of the hotel and its profile and at the same time offered him personalized suggestions at low prices. By using the latest technology such as big data, AI and algorithms and a business model that combines two classic booking models, Nustay has taken up the fight with industry giants like Booking.com and Hotels.com. Unlike other competitors in the industry, Nustay combines low prices from the B2B-model, which is based on buying many rooms in few hotels for a reduced price, with the B2C-model, offering a large number of hotels for on-demand booking. Nustay cooperates with several hotel booking services such as Expedia, Priceline and Agoda making it possible to offer rooms at more than 1.5 million hotels at low prices. Aided by the technological platform, suggestions are tailormade to suit the customer's requests, type of stay and earlier bookings.
»Our vision is simple: We give our customers access to the best hotel prices around the world with a single search. Now, we wish to continue to grow and break through internationally. Therefore, the listing on Sportlight is the next natural step. With a strong team, both within operations and management, an advanced well-functioning technical platform and our partnerships with Google Hotel Ads, Yahoo and Bing, we have every chance to succeed in maintaining our position as an innovative, smart and hungry David among the travel industry's Goliaths«, Mathias Lundoe Nielsen, founder and CEO for Nustay comments.
To be listed on Spotlight in spring
Following a preliminary round of investments of SEK16.5million, Nustay prepares for an IPO and listing on the Spotlight Stock Market. The listing will take place in the Spring and aims at financing the company's continued growth in the future. The planned new issuing of stock will amount to a value of SEK30million. Nustay's revenues are expected to increase substantially due to an increased marketing effort. A large part of the budget will finance digital marketing activities. Sedermera Fondkommission will aid Nustay in the listing process and Nordnet Bank AB will act as Nordic Selling Agent.
»Nustay has brought together some of the most visionary entrepreneurs, the best programmers and the most proficient marketing people I've met. Their mutual understanding of digital marketing and community development will not only revolutionize the customer's hotel bookings, but the whole travel industry. This is interesting, fun and really exciting. For me, it was obvious to invest and to accept the task of leading the company's board«, says Lone Fønss Schrøder.
For information about the issuing of stocks and listing, contact:
For information about Nustay, contact:
Mathias Lundoe Nielsen, founder and CEO Nustay A/S
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SOURCE Nustay A/S