Halalbooking attracts $5m investment to accelerate growth

Halalbooking has attracted a $5 million investment to accelerate international growth and further scale its technology. The funding is coming from Dutch investment firm Capital Mills after the search and booking app and website for Muslim-friendly hotel and villa accommodation disclosed a record summer quarter. Sales in the July to September period rose 25% year on year to reach $28.8 million, helping gross booking volumes to hit $70 million in the year to date.

The figure almost matches the $75 million in annual sales achieved last year, which led Ito a 20% increase in undisclosed profits over 2023 “highlighting its resilience and rapid growth despite global market challenges”.

The company, established in 2014, features more than 500,000 properties in over 100 countries with 100,000 customers a year. It enables customers to filter properties according to their own halal lifestyle needs, such as availability of halal food and alcohol-free hotels and rooms. The Capital Mills deal involves an initial injection of $3 million received at the end of September, increasing to $5 million over the coming year. Halalbooking chief executive Elnur Seyidli said: “This investment marks an exciting new chapter for Halalbooking. Over the next few months we will accelerate our growth rate to prepare for a larger $20 million-30 million institutional equity round we are targeting in 2026.

“Our goal is to make halal-friendly travel accessible for all, and with the support of Capital Mills, we are ready to drive innovation and reach even more customers across key markets in Europe, the Middle East and beyond.”

Capital Mills sees “significant opportunities” in halal travel, an expanding global market with millions of underserved customers. Managing partner Barry de Kock said: “Halalbooking has built an impressive platform with strong technology, an international loyal customer base and a clear vision for inclusive travel.

“We look forward to supporting Halalbooking’s next phase of growth as they set new standards for the travel industry.”

Source: https://travelweekly.co.uk/news/halalbooking-attracts-5m-investment-to-accelerate-growth