AMSTERDAM, May 12, 2022 / PRNewswire/ – Katanox, the travel accommodation distribution and fintech platform, rises $ 5.7 million from a group of financial, hospitality, and tech entrepreneur family offices to repair and reconfigure B2B hospitality distribution. The group of investors includes Rappi and Yuno co-founders John Paul Ortegaco-founder of fintech Dimebox and current co-founder and CEO of Found by Jan Joost Kalffand founder of hospitality tech iTesso Bas Blommaart.
In addition to its rise, Katanox brings in the industry veteran Rob Torres as a non-executive director. Rob brings over 20 years of experience and his extensive network in the travel industry to the company. He will work with the founding team to collaborate with global hotel brands.
“I am very excited to improve my relationship with the team and to use the best practices from the programmatic advertising industry for B2B hospitality distribution. The Katanox team has built an interesting set of partners. solutions to bring the transparency needed for the open distribution period.“ SAYS Rob Torresnon-executive director of Katanox.
The Katanox team combines new technology with decades of expertise in payment, travel and programmatic media technology, to advance the future of B2B hospitality distribution. Katanox replied $ 150 billion corporate travel market by streamlining and improving the distribution of travel accommodations, which have historically been controlled by Online Travel Agencies (OTA’s), Global Distribution Systems (GDS) and bedbanks.
“Because of demand, we are seeing a lot of growth and development in the travel sector driven by technology and digitalization. However, when it comes to living, it is the safe middle people who control the market and control to grow, “he said Mendel Senf, co-founder of Katanox. “We are bringing much needed market change by putting power back in the hands of accommodation providers by empowering them to control their own destination through the Katanox platform.”
This phase opens up to international expansion and finance further platform development and integrations of Central Reservation Systems (CRS), Property Management Systems (PMS) and Payment Service Providers (PSP).
Global hotel chains are under severe pressure due to Covid’s slow recovery in corporate travel, and are actively seeking to replace expensive GDS and wholesalers because the connection and contracting between them is so expensive. and business travel agencies.
Katanox integrates travel accommodations so that travel vendors such as Travel Management Companies (TMC) can assemble an end-to-end experience for their corporate clients. Give them data streaming access and availability to directly search, book, pay and change their booking at any time. What’s more, Katanox will introduce financial services such as price freeze, current travel payment, cancellation / change of fees as new revenue opportunities to the two platform partners. Platformization is a proven model from fintech and other industries to reduce costs and promote innovation through direct collaboration.
A changing time for travel distribution
The International Air Transport Association (IATA), the trade association for the world’s airlines has created an industry standard, known as the New Distribution Capability (NDC) and Billing and Settlement Plan (BSP) that is changing the way . plane the products are sold and paid for. On the other hand, the hotel and vacation rental industry is lagging behind in distribution and payment initiatives. The pandemic made it clear that B2B distribution of hospitality was dictated by gatekeepers such as the GDS and OTA duopoly, constrained by outdated software solutions and conditioned by monotonous payment providers such as virtual credit cards.
The Katanox team, with industry-changing experience in programmatic advertising and payment, has seen similarities in advertising platforms that directly connect inventory advertisers to publishers or payment service providers that connect in the separate world of payment and finance. Katanox is a global remote first company with a base of Amsterdam and has numerous plans to hire engineering, business development and sales. Its group has since spread all over the world from Amsterdam on London, pair, Istanbul, The Angels and Mexico City.
Source: https://katanox.com/blog/katanox-raises-5-7-million-and-appoints-former-md-of-google-travel-and-current-expedia-executive-rob-torres-as-non- executive-director-as-it-scales-up-to-enable-direct-b2b-distribution-o/
Katanox is a travel accommodation distribution and fintech platform that brings together travel sellers and travel accommodation providers. Katanox expedited the distribution of inventory and payment for travel accommodation. The platform aims to open during the program for B2B distribution of hospitality. The team is led by Mendel Senf, Georgios Georgiadis, Imre Vogelezang and Paul Beukerssupported by a team of experienced industry professionals.