A Trentino-based software company specializing in travel technology has raised €47 million in its Series B funding round. The round includes primary and secondary equity as well as debt financing. This is the largest funding round ever completed in Italy for a vertical SaaS company. The company, Smartness, develops software for travel agencies and tour operators. Its platform automates booking, inventory management, and customer service for travel businesses.
The funding round was led by United Ventures and CDP Venture Capital. Existing investor Partech also participated in the round. The new capital will be used to expand Smartness’s operations across Europe. The company plans to hire additional engineers and sales teams in Germany, France, and Spain. It will also invest in product development to add new features for travel businesses.
Smartness was founded in 2018. Its software is already used by over 500 travel agencies in Italy. The platform handles more than 2 million bookings per year. It supports real-time inventory updates, multi-currency pricing, and integration with major travel suppliers. The company says its software reduces manual work by 70% for travel agencies. It also provides analytics tools for pricing and demand forecasting.
The travel technology sector has grown rapidly since 2020. Many traditional travel agencies have moved to digital platforms to compete with online travel agencies. Smartness competes with companies like Travelport and Amadeus in the B2B travel software market. Its focus is on small and medium-sized agencies that need affordable, easy-to-use tools. The company says its software is designed specifically for agencies with fewer than 50 employees.
United Ventures partner Marco Trombetta said the investment reflects confidence in Smartness’s growth potential. CDP Venture Capital investment director Giulia Bianchi said the company’s technology addresses a clear gap in the market. Partech partner Luca Colombo said the company has shown strong traction in Italy and is ready to scale.
Smartness plans to use the funds to enter new markets by 2027. It will focus on countries with large numbers of independent travel agencies. The company also plans to add support for new travel sectors, such as cruises and events. It aims to double its customer base within three years.
Source: eu-startups.com