Nustay is a Danish booking brand challenging Booking Holdings and Expedia Group, which control 95% of the booking market. Started in 2014 Nustay is by no mean a new player, but recently raised more funding to grow their market share in what seem to be one of the most competitive markets on earth.
The Booking Industry
The booking industry is controlled by two companies, creating a duopoly where there is hardly any competition, which again lead to higher prices for the consumers. You might think all the advertising you see is from a wide range of business, you could not be more wrong, most of the brands you see advertising is owned by Booking Holdings and Expedia Group.
Booking brands are highly valuable
The booking industry have seen some massive takeovers. Travel brands don’t come cheap when you want to create a duopoly, the cost can easily become billions of dollars to secure the right brand and booking site. Most recently Airbnb bought their first hotel booking site, who would ever have imagined this a few years ago.
The Global Financial crisis of 2007-08 changed the global financial landscape dramatically resulting in the disruption of the conventional models of finance. With very limited financing available from banks and other financial institutions businesses had to look elsewhere for funding, which led to the creation of what we today know as crowd funding. Businesses being funded by individuals marked the birth of the era of the distributed Peer-to-Peer finance model which today is transforming the financial world.
UK Fintech company Revolut raise 250 million on 1.7 billion USD valuation
In April 2018 Revolut, a UK Fintech company, raised 250 million USD, bringing it valuation up to 1.7 billion USD. The London-based firm provides a debit card that allows people to spend money in 150 currencies with no fees at a real-time exchange rate