DreamCheaper, a service that searches for cheaper hotel rates and rebooks a room on behalf of guests, has brought in a further €1.5 million in funding.
The cap-raise brings the total so far invested in the company to €2.5 million following an earlier round.
Backing DreamCheaper this time are Holtzbrinck Ventures and TruVenturo, alongside angel investors from the previous support.
The company says the latest round will be used for marketing, expansion into new markets and product development.
The platform works by encouraging previously booked guests to email their reservation to the site.
It then scours rates on more than 100 other booking sites and wholesalers – if it finds a cheaper rate it will rebook the guest, taking a 20% fee from the saving made.
The process is not without its detractors, with companies such as Distil Networks claiming hotels on a global scale will lose business as a result.
Founder and managing director, Leif Pritzel, says:
“We see ourselves as an international service provider to get the really best hotel price. Still few know that two out of three hotel accommodations will become cheaper after booking.
“We therefore offer a great savings potential for the users without any risk or hassle for them.”
DreamCheaper hopes to introduce a new function in the summer, allowing users to receive offers from hotels that compare to the original one that was booked by the guest.