MOGU, the platform that integrates technology in the tourism sector, has just closed a €350,000 seed funding round. The main objective of this round is to lead the fintravel vertical as an integrated payment system in the tourism sector. The fintravel proposed by MOGU includes facilities such as payments from the proposals with a click, management of payments for group travel or charging customers at destination from the app, among others.
This fundraising has a great added value, since it comes from the hand of two of the most prestigious investors in the sector that join the MOGU project: Seedrocket, the best business accelerator in Spain, and Travel Compositor, a leading company in tourism technology. Both share a characteristic that makes the link with MOGU promise brilliant results: a technical profile of great solvency and recognition in the startup field.
The relationship with both investors is supported by projects shared in recent months: MOGU has recently won the second prize in the 27th Seedrocket Entrepreneurship Campus, designed to promote high potential entrepreneurial projects that can be accompanied in their digital transformation and optimization of their services, with high potential to become the great companies of tomorrow. This award has been a recognition of MOGU's technological and business commitment.
Travel Compositor and MOGU have partnered to create MO, 'The Last Mile App', a new tool that combines the most powerful technology in the travel industry with all the enhanced functionalities of the MOGU Platform. Through MO the customer not only has all their travel documentation in an orderly fashion, but can also book on the spot and pay through the app, thanks to Travel Compositor's technology.
Sara Hernández, CEO of MOGU, values this step in MOGU's trajectory: "This round represents a turning point in MOGU's growth strategy. We value very positively the trust placed in MOGU, and we are very proud that our project attracts investors with a high technical profile that are benchmarks in our sector."
Thanks to this seed round of funding, MOGU embarks on a growth path with two main objectives: on the one hand, to continue working to adapt the technology to new use cases such as conferences or university and school trips. And, on the other hand, to extend its presence both domestically and in Latam, where it is already widely integrated, as well as in new markets in the Maghreb and Eastern Europe.
"We will use this money to continue improving our technology and, above all, to enable travel agents to access financing, payment deferrals and all the new financial needs facing the sector. We want to be a benchmark for the new fintravel," says Héctor García, co-founder and strategy director of MOGU.
MOGU is a software that facilitates communication between agencies and tourists before, during and after travel. As Nubra, one of the first agencies to use MOGU, says: "It's a simple and intuitive tool. Ithas undoubtedly greatly streamlined our collection processes and interaction with customers." It is composed of a mobile application and a platform created with the aim of improving the flow of information between agency and client, offering a personalized and fully updated experience throughout all stages of the trip: from the choice of destination to booking and payment without forgetting the service at the destination.