AmsterdamAnd 12 May 2022 /PRNewswire/ – Katanox, a travel venue distribution system and fintech platform, has been upgraded $5.7 million From a group of family offices in finance, hospitality and technology to reform and reconfigure the B2B distribution in the hospitality industry. The group of investors includes co-founder of Rappi and Yuno John Paul Ortegaco-founder of fintech Dimebox and co-founder and current CEO of Founda Jan Joost Kalffand founder of iTesso Hospitality Technology Bas Blommaart.
In addition to the increase, Katanox brings industry veteran Rob Torres As a non-executive director. Rob has over 20 years of experience and his extensive travel industry network in the company. He will work with the founding team of partnering with international hotel brands.
“I am very excited to grow my relationship with the team and apply best practices from the automated advertising industry to B2B distribution in the hospitality industry. The Katanox team is building an impressive suite of solutions to bring the transparency required for the era of open distribution“ She said Rob Torresa non-executive director at Katanox.
The Katanox team combines innovative technology along with decades of experience in payments, travel and automated media technology, to advance the future of B2B distribution in the hospitality industry. Katanox addresses 150 billion dollars The corporate travel market by simplifying and improving the distribution of travel venues, which has historically been dominated by online travel agencies (OTA), global distribution systems (GDS) and bed banks.
He said, “Out of necessity, we have seen many developments and improvements in the travel sector driven by technology and digitalisation. However, when it comes to accommodation, it is the safe intermediaries that are dominating the market and stifling growth.” Mandal Snaf, one of the founders of Katanox. “We are bringing much-needed change to the marketplace by putting power back in the hands of accommodation providers by enabling them to control their destination via the Katanox platform.”
This round opens an international expansion and funds further development of the platform and integration with Central Reservation Systems (CRS), Property Management Systems (PMS), and Payment Service Providers (PSP).
Global hotel chains are under heavy pressure as a result of the slow Covid recovery of corporate travel, and are actively seeking to replace expensive GDS and wholesalers because contacting and contracting them with commercial travel agencies is too expensive.
Katanox combines accommodations while traveling so that travel vendors such as Travel Management Companies (TMC) can put together a comprehensive experience for their corporate clients. Give them access to the data flow and availability to search, book, pay and directly modify their reservation at any time. Furthermore, Katanox will offer financial services such as price freeze, travel now pay later, and cancel/change fees as new revenue opportunities for both platform partners. The platforms are a proven model from fintech and other industries to radically reduce costs and foster innovation through direct partnerships.
A transformative era of travel distribution
The International Air Transport Association (IATA), the trade association of global airlines, has created an industry standard known as New Distribution Capacity (NDC) and Billing and Settlement Scheme (BSP) that is changing the way Airline Products are sold retail and paid for. Instead, the hotel and vacation rental industry lags behind in distribution and payment initiatives. The pandemic has made it abundantly clear that B2B distribution in hospitality is being dictated by gatekeepers like GDS and binary OTA, put off by legacy software solutions and conditioned by monotonous payment providers like virtual credit cards.
The Katanox team, with industry-transforming experience in advertising and automated payments, sees similarities with ad platforms that connect advertisers directly to publishers’ inventory or payment service providers that connect the fragmented world of payments and finance. Katanox is the first global telecommuting company with a base in Amsterdam She has extensive recruitment plans in the areas of engineering, business development and sales. Its team spreads all over the world from Amsterdam to LondonAnd ParisAnd IstanbulAnd Angels And Mexico City.
source: https://katanox.com/blog/katanox-raises-5-7-million-and-appoints-former-md-of-google-travel-and-current-expedia-executive-rob-torres-as-non- CEO-as-expand-up-enabling-direct-b2b-distribution-o/
Katanox is a travel accommodation distribution platform that brings together travel vendors and travel accommodation service providers. Katanox facilitates distribution of accommodation inventory for travel and payments. The platform aims to open up the automated era of B2B distribution in the hospitality industry. leads the team Mandal SniffAnd Georgios GorgadisAnd Emre Fugelizang And Paul Bookerssupported by a group of experienced professionals in this field.
The source is Catanox