International investment firm Axon Partners Group has invested in the mobile-only same-day hotel booking company Hot Hotels. This brings the total investment in Hot Hotels (including founders, business angels, Bolt Accelerator and ENISA) to $1M USD.
The deal will enable Hot Hotels to develop and expand throughout Latin America, a market in which Axon has vast expertise and knowledge. The company also plans to continue to increase its customer base in Europe, with an aim to consolidate Hot Hotels´ leadership in the European mobile-only, same-day hotel booking market.
Screenshots from Hot App
Conor O´Connor, CEO of Hot Hotels said: “With this investment by Axon, we now have the firepower to establish clear water between ourselves and our competitors in Europe. With the expertise of Axon’s investment team, as well as its global network of offices, Axon provides a base to accelerate our roll-out in fast growing Latin America”
Carlos Rodríguez-Maribona, of Axon Partners Group’s Investment Division comments: “Travel and mobile are among the hottest areas for investment right now, so Axon is delighted to have made Hot Hotels the first investment of its recently announced ICT II Fund. We are looking to work with, and have found in Hot Hotels driven and talented entrepreneurs that already have a strong presence in their market as well as the capacity to expand internationally.”
The ICT II Fund aims to create a positive long-term impact on the Spanish economy. It looks to take the same strategy as the successful Axon’s ICT I Fund, which invested in companies like Wuaki.tv, Akamon and Nice People at Work; however ICT II is oriented towards early stage companies, rather than growth.
Carlos continues: “We have been impressed by the strong results Hot Hotels’ diverse and experienced team has achieved. With its vast experience in the travel sector and our knowledge of the technology sector and Latin American markets, we believe this is a relationship with great potential.”
Intelectium Business Acceleration, led by Managing Partner Patricio Hunt, served as Hot Hotels´ sole advisor on this transaction and also participated in the investment round through Techxios, its investment vehicle.
About Hot Hotels
At Hot Hotels we offer mobile-only, same-day hotel booking in 43 countries and 257 cities in Europe, Africa, Asia, Latin America & Israel. The company was founded in January 2012 by Conor O´Connor, Adelaida Muriel, Joe Haslam and José M. Fernández.
Hot Hotels remains majority owned by the founders of the company and has offices in Madrid and in Marbella, Spain. See http://hot.es/ or follow @hot_app for more information.
About Axon Partners Group Investment
Axon Partners Group is an international Investment, Corporate Development and Consulting firm, specialised in global emerging markets. Created by entrepreneurs with vast business development and financial experience, Axon has grown to become a team of over 30 experts, worldwide.
Axon Partners Group Investment has a winning combination of a global presence, partnered with local expertise. We manage over $180M USD in Funds and invest in companies in Latin America, Spain and India via offices in Madrid, Bangalore Bogotá, Miami and Seville. Axon has a proven track record of success in sectors like energy, healthcare and digital economy. We invest from $100K USD to $25M USD. See http://www.axonpartnersgroup.com or follow @AxonPG for more information.
Intelectium is a business acceleration firm with deep expertise in financing transactions for technology startups. The company participated in startup funding transactions involving in excess of $70M USD in the last 5 years. For more information, please visit http://www.intelectium.com or follow @Intelectium