Tumodo Raises $35M to Revolutionize MENA Business Travel
Tumodo, a Dubai-based innovative B2B business travel platform, has announced the successful completion of a $35 million pre-seed funding round, co-led by angel investors with a focus on the Middle East and North Africa (MENA) region.
In a statement on Thursday, the company said the funds will catalyze its expansion in the UAE market, continued product development, and the exploration of new partnership prospects. Additionally, the company has ambitious plans to extend its reach across 25 countries worldwide by 2026.
Citing data from the Global Business Travel Association, Tumodo highlighted that the global business travel market achieved a valuation of $933 billion in 2022 and is anticipated to rebound to pre-pandemic levels, reaching $1.4 trillion by 2024.
The company emphasized the MENA region’s rapid recovery in the business travel market, revealing that by 2022, it had already reached 86 percent of its 2019 levels.
Stan Klyuy, Tumodo’s Chief Commercial Officer, explained, “Tumodo’s mission is to contribute to the MENA business travel market, ensuring not only its rapid recovery but also positioning it as a leader in technological innovation. We facilitate the establishment of efficient business processes, optimize travel expense management, and bolster employee productivity while ensuring compliance with travel policies. On average, our clients achieve a remarkable 35% reduction in their business travel expenses.”.
Founded in 2023, Tumodo offers businesses a streamlined solution to book flights and accommodations for hundreds of employees in under two minutes. Notably, the platform provides complete transparency, free from hidden fees, allowing businesses to manage expenses with greater precision. The company is also working on an AI feature to simplify trip planning, offering seamless integration with corporate HR systems.
Currently serving over 100 businesses in the MENA region, Tumodo has established connections with major distribution channels, global hotel chains, and more than 400 airlines worldwide.
The platform offers customers access to over 2 million accommodation options and integrates with primary travel services globally.
With its emphasis on cutting-edge technology and a customer-centric approach, Tumodo aspires to become the leading business travel platform in the MENA region, aiming for a 100 percent adoption rate.
The company’s help center specialists are available to assist in trip organization and option selection.
Citing the World Travel & Tourism Council, Tumodo noted that even during the pandemic years, spending on business travel surpassed that on leisure travel.
The company highlighted the growth of the business travel market, outpacing leisure travel growth by 1 percent to 10 percent in 2021–2022, with the Middle East market experiencing a significant 15 percent difference.
Tumodo underlined its readiness to modernize and streamline the travel organization process to contribute to the market’s growth.