Midnightdeal is a gamified hotel marketplace: book premium hotels at a price of your choice!
Business overview
Location | Vienna, Austria |
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Social media | |
Website | www.midnightdeal.com |
Sectors | Travel, Leisure & Sport Digital B2C |
Company number | 474441h |
Incorporation date | 19 Jun 2017 |
Investment summary
Business highlights
- Already generated over €4m in online revenues
- Beloved by travellers - 4.6*/5* on Trustpilot - 1.200+ reviews
- Over 100k registered members - 40% retention rate in 6 months
- Senior leading team: ex Tripadvisor, Expedia, lastminute.com
Idea
Introduction
Over 2,000,000 hotel rooms in Europe remain unsold EVERY night.* Supply & Demand is drifting apart - this is where Midnightdeal comes in:
We are Europe's leading mobile-first gamified hotel marketplace where you can book a hotel at a price of your choice . Our ambition: Becoming Europe’s next booking tech unicorn!
Midnightdeal has been able to continuously scale its business throughout the most challenging times the tourism industry has ever seen. We grew our revenue every single year!
Focussing on Millennials and the GenZ, the world’s largest travel generation, Midnightdeal offers the best hotel deals, as proven by Germany's Galileo TV show!
The concept is simple: find your favourite hotel on Midnightdeal, set your desired price on our price slider, and find out at midnight if your bid has been accepted.
Can’t wait that long? You can also book your dream hotel at our, already discounted, instant book rate.
*based on research from the last 12 months.
Substantial accomplishments to date
Launched in Austria in 2018, Midnightdeal entered the German market in 2020 and the Czech market in 2021.
Revenue has continuously risen YoY since 2019, our hotel portfolio has increased to over 500 and our newsletter members count now stands at over 100k.*
Midnightdeal generated millions of gross revenue over the past 2 years and was able to grow by 200% throughout the Covid pandemic.*
We follow a mobile-first approach - the result: over 70% of our bookings happen on mobile devices.
Monetisation strategy
We have a transactional business model, meaning we take a commission from our hotel partners for each sale - typically, the commission level is 20%.
Our direct sales efforts are led by a very lean marketing strategy with a focus on social media - we are gross margin positive on our marketing spend, meaning we generate more money than we spend on marketing.
Direct sales are furthermore aided by our newsletter sendouts - more than 20% of our sales are generated through our internal communications.
In addition to our direct sales, we also have a B2B2C component accounting for roughly 25% of our overall gross revenue.*
*based on unaudited management accounts.
Use of proceeds
The funding will be used to scale into new markets, such as the Netherlands and the UK, to consolidate our existing markets, and to improve our product with hyper-personalisation and a top-notch loyalty program.
Furthermore, we're going to improve our gamification system and turn even more travellers and hotel owners into happy customers and partners.
Investors Perks
Please note that any discounts, rewards and/or offers listed by a company in its campaign are subject to the terms and conditions applied by that company. It is the company’s responsibility to honour such discounts, rewards and/or offers, and Seedrs does not take any responsibility for them.
Key Information
Debt
The company has the following outstanding loans:
1. €125,000 loan from the Austrian government via the Erste Group Bank AG at an interest rate of 0% per annum. The loan was received on Feb 8, 2021 and is to be repaid by Feb, 2026.
2. €200,000 loan from the Austrian government via the Erste Group Bank AG at an interest rate of 0% per annum. The loan was received on Aug 10, 2021 and is to be repaid by Aug, 2026.
3. €160,000 loan from the Austrian government via the Erste Group Bank AG at an interest rate of 0% per annum. The loan was received on Jan 7, 2022 and is to be repaid by Jan, 2027.
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