Tumodo Lead Off for Technological Advancements in MENA Business Travel
Tumodo, the business travel platform established in 2023, has raised US$35 million in a pre-seed funding round, co-led by angel investors with a focus on the Middle East and North Africa region. This infusion of capital is earmarked to support Tumodo's presence in the UAE market, drive further product development initiatives, and cultivate new partnerships within the MENA market. The company has set goals to expand its platform to 25 additional countries globally by the year 2026.
According to the Global Business Travel Association, the global business travel market, which reached US$933 billion in 2022, is anticipated to rebound to pre-pandemic levels, reaching US$1.4 trillion by 2024. Notably, the MENA business travel market is leading the recovery, having already achieved 86 percent of its 2019 levels in 2022.
Distinguishing itself from competitors, Tumodo facilitates swift booking of flights and hotels for hundreds of employees within a mere two minutes. The platform stands out by eliminating hidden fees, thereby empowering businesses to manage expenses efficiently and enhancing operational transparency. To further streamline the travel organisation process, Tumodo is actively developing an artificial intelligence feature. This innovative technology is designed for seamless integration into companies' HR systems, simplifying internal processes.
Stan Klyuy, Chief Commercial Officer of Tumodo, envisions the platform as the future of business travel. He emphasises Tumodo's commitment to contributing to the technological advancement of the MENA business travel market, aiding in its rapid recovery and positioning it as a global leader. Klyuy notes, "We help companies set up business processes and optimise the management of travel expenses, enhancing employee productivity and ensuring compliance with travel policies. This allows us to reduce the costs of business travel for our clients by 35 percent on average."
Having gained the trust of over 100 businesses in the MENA region, Tumodo boasts connectivity to major distribution channels, global hotel chains, and collaboration with more than 400 airlines worldwide. Offering customers access to over 2 million accommodation options, the platform is seamlessly integrated with key travel services across the globe.
With its technology and customer-centric approach, Tumodo is ready to emerge as the leading business travel platform in the MENA region. The company aspires to achieve a 100 percent adoption rate, backed by a team of help centre specialists ready to assist in organising trips and selecting optimal travel options. Tumodo is firm in its commitment to enabling businesses of all sizes to attain their travel objectives while maximising return on investment.
Research by the World Travel & Tourism Council underscores the resilience of business travel, revealing that even during pandemic years, spending on business travel exceeded that on leisure travel. Notably, the growth of the business travel market outpaced leisure travel by 1-10 percent, with the disparity reaching nearly 15 percent in the Middle East market. Tumodo's solutions are positioned to modernise and streamline the travel organisation process, contributing to the overall growth of the market.