FinalPrice
FinalPrice - a technology company in the field of tourism.
History
2021: Receive $1 million investment
On July 5, 2021, the OKS Group informed TAdviser that it had invested in an online service for organizing FinalPrice travel, co-investors were Sistema VC and Almaz Capital funds. The volume of the round amounted to $1 million.
Funds raised during the investment round are needed FinalPrice to launch To Europe in as part of a strategic partnership with a global payment company. In MasterCard June 2021, Mastercard announced that FinalPrice had become a partner of Mastercard for digital offerings for optimization business processes small and medium-sized businesses (SMEs). - Banks Mattercard partners payment system countries Europe in began issuing special debit cards designed for SMEs. With these cards it will be possible to pay for travel services through FinalPrice and on them receive cashbacks from hotel accommodation, flights and rental. cars
From existing travel companies, the service is distinguished by a business model: FinalPrice earns on a fixed annual subscription, and not on commissions from each trip. This approach allows you to offer tourist services at prices from suppliers and additionally return to travelers the commission received in the form of cashback or discounts for future trips. In the case of hotel reservations, savings for travellers range from 10% to 35% of the cost of accommodation. The service is designed for people who travel at least 3-4 times a year.
FinalPrice allows you to book a trip anywhere in the world. Earlier, FinalPrice had already attracted funding from Almaz Capital, Sistema VC funds and a number of private investors in the amount of $4 million.
 | The service is FinalPrice dynamically developing and in demand among travelers from different countries, however, the implementation of a European project with Mastercard at the level of world standards required additional funds. Realizing that a partnership with the global payment system can bring the project to a different level, FinalPrice shareholders decided to hold another investment round. The participation of OKS Group, a major investor, in our opinion, confirms the high potential of the services segment for travelers. Tourism projects continue to attract investors despite the serious constraints that the industry faced during the pandemic, says Peter Kutis, founder and CEO FinalPrice, founder of the tourism service OneTwoTrip.
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| | We expect an explosive increase in demand for tourism services in the medium term, already in July 2021 it is possible to predict a confident restoration of the turbo business in the post-pandemic period. According to Morgan Stanley, in 2021, demand for travel services will reach 70-80% of the pre-Andemic level. Market expectations confirm this forecast: after a sharp drop in April 2020, by the beginning of 2021, market quotes of Expedia and Booking.com services securities reached historic highs. According to experts of the air market, in 2021 there will be 90 airlines that will be able to launch their flights by the end of the year. On the principle of "prepare a sleigh in the summer," the OKS invests in the online travel sector at the moment when it is just starting to get out of the depression, anticipating the next round of the cycle, says Mark Hanney, managing partner of OKS Group.
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