With 1.5 million euros in hand, MagicEvent.com is looking to attract European business travellers
MagicEvent.com , the start-up dedicated to business travel accommodation and services, has just raised funds of EUR 1 500 000. This takes the total sums raised since its launch to EUR 3 000 000. According to Valéry Linyer, the company's co-founder and CEO, this fundraising activity will enable the start-up to develop its portfolio of accommodation in Europe, and to offer new services to professionals.
Currently, MagicEvent.com has nearly 10 000 accommodation units available, comprising studios, apartments and villas. These are located in 60 cities across Europe and worldwide, which have been selected for business tourism.
'We are going to increase our provision in the main business cities such as Milan, Frankfurt and London, so we can offer a wide choice of accommodation', says Valéry Linyer. The company will stick to the same requirements: 'All our accommodation is selected to meet the needs of business travellers, in terms of comfort, security, location close to business areas, equipment and services'.
Investors that are well-known in their business areas
Among the start-up's shareholders are Benoît Bassi, Partner and President of Bridgepoint Business in France, and member of the Bridgepoint Group's board, and Michael Benabou, co-founder of Vente-Privée.com.
Finally, the Banque Publique d’Investissement (BPI) and some investment companies are also helping the start-up to grow.
100% business-oriented services
MagicEvent.com provides tools to help businesses with making reservations and with the management of accommodation expenses. These are: Group Agreements for large corporations, the expenditure monitoring and optimization tool for Travel Managers, the loyalty program Magic Business Card for executive assistants, the Agence Travel Pro service for travel agencies, and the white label sites for event organizers.
'We make reserving accommodation as simple as possible, so you can pay by bank transfer, or have monthly billing to your account', explainsValéry Linyer. He adds: 'These new funds represent a very important stage in the development of our services for travel buyers in businesses, both in France and throughout Europe'.
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