Bookabed owner TBO Tek has raised around $186m in funding through its successful share listing on the National Stock Exchange in India.
The Indian online travel distribution group will largely use its new funding to continue to innovate and expand in the UK and Ireland, as well as the south Asian region.
TBO is known for its pathbreaking B2A strategy – an acronym for Business to Travel Agents – in the tourism industry.
B2A is a first-of-its-kind strategy in the region aimed at empowering agents to maximise earnings by meaningfully catering to travellers seeking customised, hassle-free, and convenience-oriented tourism services.
Beverleigh Hart, Commercial Director, UK & Ireland, TBO Tek Limited suggested that the investments would be used to continue fueling their innovative endeavors in the region. “We at TBO are very excited about this development,” Beverleigh said. “The investments will be used to further enhance our technology and services as well as expand into new markets in the region.”
The TBO platform has a significant presence in the UK and Ireland markets and connects over 159,000 buyers across more than 100 countries with over 1 million suppliers. Their global impact was exemplified by the anchors attracted before the IPO, which included the Abu Dhabi Investment Authority, and institutional investors from countries like Norway, Japan and India.
Gaurav Bhatnagar, Co-Founder and Joint MD, TBO Tek Limited said: “TBO’s listing on the Indian stock exchanges marks a significant milestone in our company’s journey. This accomplishment paves the way for new opportunities, enabling us to drive innovation, expand our reach, and enhance value for our shareholders and customers. We are poised for a future of sustained growth and success.”
At its core, TBO simplifies the business of travel for suppliers such as hotels, airlines, car rentals, transfers, cruises, insurance, rail, and others, and retail buyers such as travel agencies and independent travel advisors. It also caters to enterprise buyers that include tour operators, travel management companies, online travel companies, super-apps, and loyalty apps.
TBO’s two-sided technology platform enables suppliers and buyers to transact seamlessly with each other. For buyers, the platform is an integrated, multi-currency, and multi-lingual one-stop solution that helps them discover and book travel for destinations worldwide, across various travel segments such as leisure, corporate, and religious travel.
Vijayeta James, Commercial Director, APAC, TBO Tek, said: “We at TBO are very excited about this development. The investments will be used to further enhance our technology and services as well as expand into new markets in the region.”
