BizAway: International Business Travel Scaleup Secures €10M Funding!

In a move signaling the continued growth of the business travel sector, international scale-up BizAway has successfully secured EUR 10 million in funding. The company, which has been actively operating in the business travel sector since 2015, has consistently attracted significant investments.

This latest funding round is expected to be instrumental in furthering BizAway's commitment to research and development of groundbreaking technologies, including its latest feature BizzyFlex. Notably, BizzyFlex allows travelers to cancel bookings up to three hours before departure, offering unprecedented flexibility in managing business travel arrangements.

The recent influx of capital will be pivotal in bolstering BizAway's position in the industry. The company plans to utilize the funds for strategic acquisitions and partnerships, building on its recent collaboration with Telepass. The partnership enabled the mobility company to provide its private customers access to the 'Flights' inventory. Additionally, BizAway recently acquired the business travel branch of the NGT agency, further strengthening its position in the market.

“We are extremely happy and grateful for the funding which will allow us to strengthen and innovate further,” says Luca Carlucci, CEO and Co-Founder of BizAway. “In recent years, BizAway has stood out thanks to its dedication to research and development of new technologies combined with a focus on customer satisfaction. Thanks to our strong propensity for innovation, we are able to offer our customers a complete and simplified business travel management experience. All this has led to considerable economic and employment growth, and this funding will give us the opportunity to consolidate our position and innovate further.”

The medium-term funding was provided by illimity, an organization that carefully analyzed BizAway's ambitious growth plans before choosing to support the scale-up. illimity's Growth Credit division, led by Umberto Paolo Moretti, has demonstrated its commitment to backing innovative companies with high growth potential by structuring operations tailored to specific needs.

The story of BizAway traces back to January 2015 when Luca Carlucci and Flavio Del Bianco, two enterprising young individuals, identified a unique business opportunity. In a rapidly globalizing world, where business travel is becoming increasingly prevalent, they realized there was a lack of comprehensive services to manage corporate travel efficiently and flexibly. Merging their passion for travel and technology, Luca and Flavio developed a proprietary IT tool that provides genuine value to companies leveraging digital platforms to organize their employees' travel.

BizAway, with headquarters in Spilimbergo and Milan, Italy, expanded its operations to include locations in Barcelona and Vigo, Spain, as well as Shkodra, Albania. The recent opening of an office in Dubai, UAE, further solidifies its global presence. Since its inception, the platform has facilitated over 1,500,000 bookings, resulting in over EUR 10 million in savings for more than 1,600 client companies, including prominent names like BDO, Casavo, Credimi, Freeda, Penta, Cimolai, Talent Garden, Satispay, and many others.

With tripled revenue in the past year alone, BizAway is now well-positioned to surpass the EUR 100 million mark rapidly. The company's remarkable growth trajectory has also been reflected in its workforce, which has expanded to over 200 employees across its eight locations worldwide. Impressively, the volume of bookings increased by an impressive 171% in 2022, underscoring the scale-up's momentum.

BizAway's success has earned it noteworthy accolades in the industry. For the third consecutive year, the company has been recognized as the 'Growth Leader,' ranking 64th in the esteemed Statista and Il Sole 24 Ore ranking. Furthermore, BizAway secured its position as one of the 'Fastest growing companies,' ranking 301st in the prestigious FT 1000 ranking compiled by the Financial Times and Statista.

The latest funding round and BizAway's impressive track record position the scale-up as a key player in shaping the future of business travel.

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Photos courtesy of: BizAway

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