Funding

[Funding alert] Italian Startup Smartpricing Secures €13 Million in Funding

Dec 14, 2023 | By Startup Rise EU

Italian startup Smartpricing secures €13 million in funding. consisting of bank credit lines worth €2 million and equity worth €11 million.

Italian startup Smartpricing secures €13 million in funding. consisting of bank credit lines worth €2 million and equity worth €11 million.

Paris-based venture capital firm Partech is driving this advancement. Italy was the destination of the first investment made by Senior Principal Simone Riva and Co-founding Partner Philippe Collombel from their new fund, Partech Venture, which is supported by CDP Venture under the International Fund of Funds programme.

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The Bending Spoons founders, Azimut Digitech Fund, which was backed by FNDX, and Techshop's Gianluca D'Agostino—the primary investor of the 2022 seed round—were also involved in the round.

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With the help of this additional finance, Smartpricing hopes to dominate the market by providing cutting-edge rate management tools and more to hotels all over the world. The AI-driven solution is intended to optimise prices for thousands of hotels, bed and breakfasts, resorts, and vacation rentals while streamlining a variety of everyday tasks.

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Luca Rodella, CEO and co-founder said, “We had a lineup of potential lead investors, but Partech stood out with their market expertise and the approach of Simone and the people involved in the process. They are the perfect partners to fuel our high aspirations and global expansion goals. Notably, this round, in a challenging investment climate, was one of our region’s largest, spotlighting a 100 percent Trentino company’s impressive achievements. We’re just at the beginning of a journey that will lead us to revolutionize how tens of thousands of facilities worldwide operate with innovative solutions currently unmatched in the market,”.

Moreover, Smartpricing was recognised as one of the top 10 companies in Italy by LinkedIn and as one of the Financial Times' Sifted list of Italy's most promising businesses of 2023, which was established by a number of venture capital firms and highlighted the company's development and technological prowess.

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This fundraising round highlights Smartpricing's remarkable trajectory and serves as a lighthouse in the tough startup investment landscape. With Smartpricing, over 3,000 hosts globally have already seen an average increase in revenue of over 30%.

Simone Riva, Senior Principal at Partech said, “We are excited to collaborate with Luca, Eugenio, and Tommaso to create a global leader in hospitality industry software. Over the past 12 months, the team has shown exceptional execution skills, strategic clarity, and ambition on par with other success stories in our portfolio. We believe Italy, with its burgeoning hospitality market and fragmented software landscape, is an ideal starting point. Our funding aims to consolidate our position in the Italian and German-speaking markets and venture into new high-potential territories, as we’ve successfully done with other SMB software investments,”.</strong

Gianluca D’Agostino, Co-founder and Managing Partner of The Techshop said, “The journey started in spring 2022 with the Smartpricing founders continues, the goals become even more ambitious. After leading the 2022 Seed round, we’ve been part of the company’s rapid growth and have helped bring about this exciting new funding chapter. We’re eager to join forces with a European-level investor like Partech to further nurture Smartpricing’s SaaS evolution and expansion in Italy and beyond,”.

About Smartpricing

Luca Rodella, Eugenio Bancaro, and Tommaso Centonze founded Smartpricing in 2020 in Arco, Trentino. The company employs a proprietary algorithm to process multiple types of data, such as market, saturation, and price trends in the area and the history of the accommodation, to determine the best price to improve the performance of the hospitality industry.

Read also - Cologne-based Metal Trading Platform METYCLE Secures €4.7 Million in Funding

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