BizAway announces €2.5m new funding

– SPAIN, Barcelona / ITALY, Spilimbergo –  BizAway, a Barcelona, Spain-based SAAS developer for the travel industry, announced the completion of a EUR 2.5 million capital investment round.

The money was led by the CEO of the venture capital firm Partners Group in Italy, Riccardo Martinelli, which has entered through the company Bizy24 and included a contribution of existing investor Mundi Ventures and CEO of Radisson Hotel Group, Federico González Tejera.

After this last capital increase, the founders maintain a share of more than 50% of the capital.

The proceeds will be used to launch new offices in Madrid and Milan.

BizAway, founded in 2015 in Italy by Luca Carlucci and Flavio Del Bianco and later moved to Barcelona, developed a b2b travel solution that guarantees an average saving of 20% in corporate travel, an advantage that employees can also benefit for their private trips. In addition, it offers centralized invoices, personalized reports and 24-hour assistance seven days a week.

In addition to the Spanish and Italian markets, the platform operates in France, Portugal, Andorra, Switzerland and Germany. In total, he works for about 400 companies, for which they manage their corporate trips. In 2019, BizAway recorded sales of 3.5 million euros, 3x 2018, and expects similar growth for 2020.

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