Pruvo, a startup which helps customers rebook hotels at a cheaper price, has reportedly secured $1.1m in its seed funding round.
The capital injection was led by Spain’s SeedRocket 4Founders Capital, with participation also coming from unnamed angels, according to a number of reports in the media.
With the fresh line of equity, the FinTech is looking to expand its sales and development teams, the articles report.
The company helps travellers to find better prices for the rooms they have already reserved. Its mobile app will alert the user anytime the price drops for the room they have reserved so they can re-book it at a cheaper price and save money.
It works by a user simply uploading their booking, which could have been made with any other service provider, into the Pruvo app. The app will then just monitor the market in the background and inform the user of any changes in the market.
Due to the uncertain times caused by the coronavirus and people’s travels being cancelled, Pruvo is offering services for free. During the pandemic, travel companies can implement the technology without the need of paying a setup fee, the articles report.
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