HolidayMe, a United Arab Emirates-based travel agency backed by holding company Al Sanie, has raised an undisclosed amount of series B financing, increasing its total funding to $23m, Gulf News has reported.
The new funding came from undisclosed investors. Al Sanie invested $4m in the company in 2015 before returning for a $7m series A round in late 2016 that included F&C Overseas Investment, an asset management subsidiary of financial services firm BMO Financial Group.
HolidayMe operates an online holiday booking platform that offers package trips to some 50 countries. It will use the funding to open a physical retail presence in Saudi Arabia in order to meet local consumers’ preference for face-to-face service.
Proceeds will also go to expanding the list of destinations available on the platform, and developing the system’s interface to ensure that it is accessible across a range of platforms.