Selfbook has closed Series A funding extension, valuing the company at $300m. Credit: Sara Dubler/Pixabay

New York-based hotel payment software Selfbook has closed a $15m Series A financing extension, which values the company at $300m.

It represents a 38x increase from its valuation following the completion of a seed round six months ago.

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Led by Tiger Global Management and new strategic hotelier investors JAWS Estates Capital, the family office of Barry Sternlicht, the total Series A funding stands at $40m.

In October last year, Selfbook raised $25m in Series A financing. The Tiger Global-led funding round saw the participation of investors, Valia Ventures, Lachy Groom and Fin Venture Capital.

Selfbook Co-Founder and CEO Khalid Meniri said: “We are grateful for the incredible response to Selfbook from investors seeking to bolster the Hospitality industry in a time of recovery and growth.

“This extension round afforded us an opportunity to bring on strategic hotelier partners who recognize the value proposition of Selfbook not just for boutique hotels but also for global hospitality brands.

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“With this new investment we can supercharge our R&D to further develop new innovations and products for our partners and to scale without dependencies.”

According to Selfbook, its proprietary software allows hotels to accept one-click payments while offering enhanced user experience.

Launched in April last year, Selfbook supports payment applications, such as Google Pay, Apple Pay and PayPal, including credit and debit cards.

Currently, the company has around 100 hotels onboard.

Tiger Global partner Alex Cook said: “Selfbook’s secure and easy-to-use plug-and-play software supports multiple payment types and can be customised to meet the unique needs of each hotel, from boutique hotels to global chains.

“We wanted to double down on Selfbook after hearing the excitement from their hotel customers and seeing the continued rapid growth over the past several months. We are excited to continue our partnership with the Selfbook team as they streamline the hotel booking experience.”