Business travel management platform BizAway has secured medium-term funding of €10 million to finalize new acquisitions and invest in research and development.
The investment is led by illimity, which chose to support the scale-up after analyzing BizAway’s growth plans, the company said. Existing shareholders have also contributed to the funding.
The new money for the Italy-based company founded in 2015 follows funding rounds of €2 million and €2.5 million in 2020 and one of €10 million in 2022.
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"We are extremely happy and grateful for this result, which will allow us to strengthen and innovate further," said BizAway CEO and co-founder Luca Carlucci. "Thanks to this investment, we will be able to develop new solutions to support large companies with the aim of simplifying procedures related to business travel and offer a better and more complete experience."
BizAway said it currently has more than 200 employees in eight locations around the world and provides business travel management services to more than 1,500 clients.