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Funding & Investment in Travel

Founder of travel tech startup Nuitée raised $48 million for its next phase: ‘That’s when we start pissing people off’

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Med Benmansour is from Casablanca and runs a travel-focused startup.

It’s an elegant coincidence—Casablanca, enshrined in the eponymous 1942 movie, is exactly the sort of travel destination that people dream about as they push their coffee around at their office desks. And since 2017, Benmansour has been building Nuitée, a travel tech infrastructure startup that provides the underlying technology that improves the famously fragmented hotel booking experience. Travel didn’t have a Stripe or Twilio, an API solution that smoothed over a high-friction, highly fragmented sector. 

“Every time you have a lot of gatekeepers, you have a fragmented space, you can disrupt that space easily,” said Benmansour, founder and CEO of Nuitée. “Travel was the only industry that did not have a strong API-first company…It was weird, to be honest with you. Okay, this is a massive industry, and yet they don’t have an API-first player.”

Bootstrapped from the beginning, Nuitée—which means “overnight stay” in French—grew to 240 employees and its customers include Hilton, Sabre, and Hopper. Now, the company is doubling down: Nuitée has raised a $48 million Series A, led by Accel, Fortune can exclusively report. Nuitée’s investors and advisors include Booking.com chairman Robert Mylod Jr., HotelTonight founder Sam Shank, Stripe CBO Jeanne DeWitt, and Shopify CRO Bobby Morrison. It’s a massive triumph for a company operating in an industry thrown into chaos by the pandemic.

“COVID was not a bad time for us,” said Benmansour, who earlier in his career worked as a Silicon Valley chip designer for Kawasaki Microelectronics. “It was actually the best time for us to show how resilient the team was. We were small, we had no debt, so we kind of bootstrapped the business. So, our balance sheet was very strong.”

Super.com, a VC-backed consumer fintech platform, has been a customer for four years, and Nuitée helps solve a core problem for them—providing “reliable hotel inventory at the best price,” said Hussein Fazal, Super.com cofounder and CEO. Fazal says Nuitée was a stable partner in the depths of the pandemic.

“Nuitée made a huge difference [during the pandemic],” said Fazal. “Even then, it felt to me from the outside, like a very stable, long-term thinking company.”

Travel isn’t exactly an industry that’s attracted VC backing, because there are lots of barriers to venture-scale returns. It’s a cyclical industry, for one, where one great quarter doesn’t promise another. 

“So, you have this cyclical nature, and then lots of times you don’t build a ton of equity value because it’s very transaction-focused,” said Ben Fletcher, Accel partner. “If you want to compete against Expedia or Booking.com, you then have to spend a ton on customer acquisition. That’s really hard.”

But Fletcher—who first met Benmansour at a travel conference in Berlin, where their first meeting stretched into five hours—thinks Nuitée is uniquely equipped to beat the odds. Nuitée is in growth mode, says Benmansour.

“The way we see this happening is like a movie of three acts,” he said. “Act One is basically, let’s say, from zero to $1 billion. That’s where we are today.”

As Fletcher eyeballs it, there’s a lot of value even in that first act. 

“If they can get Act One, they just replace aggregators and [hotel room wholesalers] bed banks,” Fletcher told Fortune. “There are aggregators and bed banks today that are worth between $2 billion and $5 billion. So, if they can continue to get a portion of that, this is going to be a $1 billion to $3 billion-valuable company.”

Then, it’s on to Act Two.

“Act Two, let’s say from $1 billion to $10 billion, that’s when we start pissing people off,” said Benmansour. “We start taking some market share…That’s one of the reasons we raised, to make sure if we run into challenges, we have the right backing and network to help us scale.”

Then, there’s Act Three, the “market-making” phase, where Nuitée aims to enable a wide range of businesses and applications to monetize their audiences through travel services. Benmansour likens this to what companies like Stripe and Twilio have done—building the infrastructure to enable a whole ecosystem of developers and businesses.

There’s a long road ahead, of course. But this three-act structure strikingly isn’t just a plan—it’s a road map that ends with Nuitée as a destination in its own right. 

ICYMI…I caught up with Databricks CEO and cofounder Ali Ghodsi about the company’s $10 billion mega-round, and my colleague Leo Schwartz had the exclusive on crypto startup BVNK’s $50 million raise. 

See you tomorrow,

Allie Garfinkle
Twitter:
@agarfinks
Email: alexandra.garfinkle@fortune.com
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VENTURE DEALS

Databricks, a San Francisco-based data AI intelligence platform, is raising $10 billion in Series J funding. Thrive Capital, Andreessen Horowitz, DST Global, GIC, Insight Partners, and WCM Investment Management led the round and were joined by ICONIQ Growth, MGX, Sands Capital, Wellington Management, and existing investor Ontario Teachers’ Pension Plan.

Hostaway, a Helsinki-based vacation rental platform, raised $365 million in funding. General Atlantic led the round and was joined by existing investor PSG Equity.

Tyme Group, a Singapore-based digital banking group, raised $250 million in Series D funding. Nubank led the round and was joined by M&G Catalyst Fund and others.

CleanCapital, a New York City-based clean energy company, raised $145 million in funding from Manulife Investment Management and others.

SiteOne Therapeutics, a South San Francisco, Calif.-based pain treatment developer, raised $100 million in Series C funding. Novo Holdings led the round and was joined by OrbiMed, Wellington Management, Mission BioCapital, and others.

Bureau, a San Francisco-based risk intelligence platform, raised $30 million in Series B funding. Sorenson Capital led the round and was joined by PayPal Ventures, existing investors Commerce Ventures, GMO Venture Partners, Village Global, and others.

Slip Robotics, an Atlanta-based automated truck-loading robots-as-a-service provider, raised $28 million in Series B funding. DCVC led the round and was joined by existing investors EVE Atlas, Tech Square Ventures, Hyde Park Venture Partners, and others.

Baller League, a London-based 6×6 football league, raised $25 million in Series A funding. EQT Ventures led the round and was joined by existing investor Dreamcraft VC and others.

Plume, a New York City-based blockchain, raised $20 million in Series A funding from Brevan Howard Digital, Haun Ventures, Galaxy Ventures, and others.

Anatomy Financial, a San Francisco-based financial operations automation platform for healthcare organizations, raised $19 million in Series A funding. Canapi Ventures led the round and was joined by existing investor Lightspeed Venture Partners.

Engineered Arts, a Falmouth, England-based humanoid robotics developer, raised $10 million in Series A funding. Helium-3 Ventures led the round and was joined by Nicolas Desmarais, Belvoir Investments, ThirtySeven Holdings, Figueira Capita, and others.

Zingbus, a Gurugram, India-based intercity bus travel platform, raised $9 million in Series A funding. bp Ventures led the round and was joined by others.

T-robotics, a San Francisco-based robotic programming developer, raised $5.4 million in seed funding. Engine Ventures and Emergent Ventures led the round and were joined by Berkeley Skydeck and Raisewell.

Loadar, a Belfast, Ireland-based freight procurement and management service, raised $4 million in seed funding. Frontline Ventures led the round and was joined by existing investor Techstart Ventures.

PRIVATE EQUITY

Align Capital Partners acquired ISPN Network Services, a Lenexa, Kan.-based managed IT services provider for broadband fiber and internet operators. Financial terms were not disclosed.

Avance Investment Management and AUA Private Equity Partners acquired a majority stake in Tropical Cheese, a Perth Amboy, N.J.-based Hispanic cheese, meat, and other food products company. Financial terms were not disclosed.

Harbour Group acquired Senproco, a Sioux Falls, S.D.-based pet grooming supplies provider, and Groomer’s Choice, the Sioux Falls, S.D.-based wholesale distribution division of Senproco. Financial terms were not disclosed.

JANUS Research Group, a portfolio company of CM Equity Partners, acquired the atmospheric and environmental research business of Verisk, a Jersey City, N.J.-based analytics and technology provider. Financial terms were not disclosed.

OPSWAT, backed by Brighton Park Capital, acquired Fend, an Arlington, Va.-based data diode and cybersecurity company. Financial terms were not disclosed.

Pearce Services, backed by New Mountain Capital, acquired Unified Power, a Terrell, Texas-based power services and equipment provider. Financial terms were not disclosed.

PrimeSource Brands, backed by Clearlake Capital Group, acquired CityPost, a Spokane Valley, Wash.-based deck, patio, and loft cable railing systems provider. Financial terms were not disclosed.

RELAM, a portfolio company of Paceline Equity Partners, acquired Falcon Equipment, a Surrey, Canada-based truck equipment solutions provider. Financial terms were not disclosed.

Sonar, backed by Advent International, Permira, and others, agreed to acquire Tidelift, a Boston-based software supply chain security solutions provider. Financial terms were not disclosed.

Specialty Appliances, a portfolio company of Reynolda Equity Partners, acquired Express Dental Laboratory, a Moore, Okla.-based specialty dental laboratory, and International Dental Arts, a Tulsa-based specialty dental laboratory. Financial terms were not disclosed.

The Stepping Stones Group, backed by Leonard Green & Partners, acquired Constellations Behavioral Services, a Portsmouth, N.H.-based applied behavior analysis provider. Financial terms were not disclosed.

Xceed Foodservice Group, a portfolio company of San Francisco Equity Partners, acquired a majority stake in Acclaim Foodservice, a Brea, Calif.-based foodservice brokerage company. Financial terms were not disclosed.

OTHER

Buildforce acquired Ladder, an Atlanta-based construction labor marketplace. Financial terms were not disclosed.





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Funding & Investment in Travel

Inside Playa Grande Beach Club, A Boutique Hotel Reimagining Travel to the Dominican Republic

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Few destinations do an over-the-top beach vacation like the Dominican Republic. As all-inclusive travel grows in popularity even with the youngest generation of travelers, this Caribbean nation is drawing record-breaking numbers of travelers year-round, many of whom head straight to the island’s oversized resorts.

Beachfront development has long since pushed past the sugar-fine sands of Punta Cana and into new regions, with big-name hotels and resorts sprouting up in spots that were once known mostly to locals. Notably, the country’s first luxury wellness resort, Cayo Levantado Resort, debuted two years ago on a private island in the less-visited region of Samaná.

Meanwhile, the once tiny beach town of Miches is buzzing; Viva Miches by Wyndham, A Trademark All-Inclusive debuted in January, while Zemi Miches Punta Cana All-Inclusive Resort, Curio Collection by Hilton opening its doors less than a month ago.

Now On the North Shore

A mere blip on the map of the Dominican Republic, the area surrounding the small town of Rio San Juan is nearly untouched, even when compared to still growing destinations like Samaná or Miches. But zoom in on Google Maps and you’ll start to see the appeal of this less-visited region: brilliantly white stretches of sand stretch right up to the lush foliage of the tropical jungle. This couldn’t feel further from Punta Cana, but with beaches that are just as nice.

Amidst the larger-than-life developments of other coastlines, the properties here are tiny in comparison. Small, serene, and supremely exclusive, properties like the Aman-branded Amanera and ÀNI Dominican Republic, are quietly rewriting the narrative of the travel to the Dominican Republic as being limited to the oversized and overwhelming.

Even more special still is nearby Playa Grande Beach Club, a boutique property the likes of which there are few in the country, let alone the Caribbean. Home to just nine standalone bungalows spread across a spacious swath of beachfront property carved out of the jungle, its one-of-a-kind design and down-to-earth luxury make it a world all its own.

Inside Playa Grande Beach Club

Stepping off the golden sands of one of the country’s most beautiful beaches and onto the manicured grounds of Playa Grande Beach Club, it’s immediately clear that this is a destination all its own. Even from the beachfront, it’s visible: the property’s meticulously maintained grounds are packed with details to delight visitors. Fringed umbrellas shade beach chairs; vintage furniture fills spaces coated with colorful, handmade tiles; candy-colored drinking glasses for afternoon piña coladas by the pool look like they’re straight out of a doll house.

Playa Grande Beach Club’s praiseworthy design comes as no surprise to those who know its founding story. Among the property’s owners is Celerie Kemble, a renowned designer who had a hand in every detail of its creation and design.

Her distinctly island-inspired, Palm Beach-informed design touches every corner of the property. Each bungalow evokes its own unique spirit, with colorful pastel palettes paired with one-of-a-kind textiles and art collected from remote corners of the world, including from Kemble’s personal travels. The Dominican inspiration of the property is undeniable, calling on classic, colonial-era design in architectural details throughout.

To step inside your private bungalow, available in one-bedroom, two-bedroom, and three-bedroom layouts, feels like stepping inside a gingerbread house with a tropical twist. Mine mixed a rose and lime green color scheme, that started with the handpicked textiles on pillows and continue to the tiles spread across the bathroom floor. My bungalow had its own kitchen, with a vintage-inspired refrigerator stocked with goodies like Dominican beer, local mangoes and freshly-ground coffee should I want to wake for sunrise on the sand.

The bathroom was its own separate sanctuary, complete with a massive copper soaking tub as the centerpiece of its design. I marveled at its size: how could the floor hold its weight? Did the house have to be built around its oversized port? It was one of a number of supremely special touches that wove together the visceral visual journey at this one-of-a-kind property.

Home Away From Home

The intentionality of every design detail is Kemble’s love for the property made manifest, giving it lived-in, well-loved quality that makes it comfortable rather than imposing. Perhaps it’s the small size of the property, apt for less than thirty guests at a time, that enhances its homey feel. However, the family-and-friends-first founding of the property is even more likely the source of its welcoming vibe.

While Kemble was the creative mind behind the property’s design, she was just one of a close-knit group of owners who initially intentioned Playa Grande Beach Club to be a private destination reserved just for friends and family. Now, guests can book bungalows for their own home-away-from-home feel.

In addition to just nine bungalows, Playa Grande Beach Club has a main house with a restaurant and bar, a two-story library and lounge, a beachfront pool with a covered lounge area for lazing, and a small gym.

Rio San Juan and Beyond

For such a set-apart property far from the tourist crowds, there’s surprisingly plenty to do just outside the bounds of the resort. One morning I ventured out with a guide who led me up a mountainside that stands between the coastline and the expanses of the island, cracking open fresh coconuts, pointing out tropical fruit laden trees, and explaining the rich vegetation along our trek.

At the end of the path was an incredible viewpoint overlooking the island’s north coast, from which he pointed out the area’s best beaches and departures for the area’s other popular excursions: horseback riding, tours through the forest to swim in millennia-old sinkholes and boat rides through the mangroves.

“Why would anyone want to leave such a precious property?” I had thought, until I realized that I would need to plan a return trip to experience everything there is to do in this still largely untouched region of the country.

The Playa Grande Secret

There is plenty to do during a stay at Playa Grande Beach Club, but noticeable absent is the laundry list of amenities that often feel like a to-do list to modern travelers. Here, the luxury is in the space, the solitude, the stretch of sand that feels almost all your own. It is the serenity of dining in the grand, romantic main house, chatting with friends and family over farm-fresh food highlighting island-inspired flavors.

“The biggest benefit of staying at Playa Grande Beach Club is that you feel like you are in a family,” says Alexandra Jeronimo, General Manager of Playa Grande Beach Club.

“The hotel is a timeless place from yesteryear where generational stories are made,” she says, referencing both the intimate feel of the property and high return rate of guests. At this boutique property, bungalows sometimes book up to a year in advance by guests who don’t want to skip a season at Playa Grande.

It’s a destination to be shared with friends and family, but carefully. “A lot of visitors tend to say things like ‘I don’t know if I should tell anyone about this place, so I’ve decided to tell no one so I can keep it for myself,'” says Jeronimo. After all, what started as a hideaway for a group of close friends and family never lost its essence. Now, it that same sublime peace and welcoming spirit that makes Playa Grande Beach Club such a singular slice of paradise.





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Funding & Investment in Travel

Jim Thorpe bank to close downtown location to make space for tourists at train station

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Mauch Chunk Trust Company’s bank in downtown Jim Thorpe will close at the end of the year to make space for tourists.

The branch is located inside the borough’s historic train station, which houses the Jim Thorpe Visitors Center.

Out-of-towners who come for a train ride, take a jaunt on the adjacent trail or to visit the shops in town stop at the station to use the restroom and seek tourism information from the Pocono Mountain Visitors Bureau.

Closing the branch will make more space for the estimated 400,000 guests who stop by in a year, according to a press release.

The decision to close the branch was made in partnership with the Carbon County Commissioners to better accommodate the crowds.

Mauch Chunk is the borough of Jim Thorpe’s former name. The train station downtown currently houses a branch of Mauch Chunk Trust Company and the Jim Thorpe Visitors Center.
Entertainers and vendors often set up at Josiah White Park beside the train station in Jim Thorpe.

Haley O’Brien

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WVIA News

Entertainers and vendors often set up at Josiah White Park beside the train station in Jim Thorpe.

In the announcement, Patrick H. Reilly, President and CEO of Mauch Chunk Trust said, “As tourism in Jim Thorpe has grown over the years, we’ve seen many of our railroad station customers increasingly using our North Street and other offices because they are easier to access and have better parking.”

Reilly also said more customers have been using their mobile app for banking.

The Lehigh Gorge Scenic Railway has trains departing the station several times daily during the busy seasons.

The county currently pays for portable restrooms to accommodate the hundreds of thousands of people that visit each year.

“No concrete plans have been made yet,” Commissioner Wayne Nothstein said Friday, but added that renovating the station to add more restrooms has been part of the conversation.

Mauch Chunk Trust has seven locations in Carbon County and Tamaqua. The bank’s main office on North Street is on Jim Thorpe’s East Side.

The train station branch downtown will close on Dec. 1, 2025. An ATM will remain outside the building.

Visitors line up for train tickets for Lehigh Gorge Scenic Railway on a summer day.

Haley O’Brien

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WVIA News

Visitors line up for train tickets for Lehigh Gorge Scenic Railway on a summer day.





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Funding & Investment in Travel

EU Simplifies Schengen Visa Access for Frequent Turkish Travelers

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The European Commission has introduced a new set of regulations that make it easier for frequent Turkish travelers to obtain Schengen visas.

The changes apply to multi-entry short-stay visas, offering greater flexibility and longer durations for applicants with a consistent and compliant travel history.

With Turkish citizens having faced difficulties in securing Schengen visas in recent years, this development is seen as a major relief for those who frequently travel to Europe. The streamlined process is aimed at rewarding those who demonstrate responsible travel behavior and regular use of previous Schengen visas.

What the New Visa Rules Offer

The policy simplifies the visa acquisition process for Turkish nationals who have previously held and properly used Schengen visas. Travelers with a proven track record of regular travel and compliance will now be eligible for longer and multiple-entry visas, reducing both the paperwork and stress associated with repeat applications.

The graduated structure of the visa durations encourages continued lawful travel. Depending on their travel history and timing of application, Turkish citizens may now receive visas ranging from six months to five years in duration.

Visa Validity Timeline Based on Travel History

  • 6-month visa: For those who apply within one year of their last valid visa’s expiration.
  • 1-year multiple-entry visa: For applicants whose previous 6-month visa expired within the past two years.
  • 3-year multiple-entry visa: For those whose 1-year visa expired within the past two years.
  • 5-year multiple-entry visa: For travelers whose 3-year visa expired within the past two years.

The policy ensures that visa validity will never exceed passport expiration dates. Specifically, the visa’s end date must be at least three months before the passport’s expiry, ensuring alignment with EU border security regulations.

Countries Where the New Policy Applies

The revised visa rules will be recognized across all 25 Schengen member states, making travel significantly more convenient for eligible Turkish citizens. The countries are:

Belgium Bulgaria Czechia Germany Estonia
Greece Spain France Croatia Italy
Cyprus Latvia Lithuania Luxembourg Hungary
Malta Netherlands Austria Poland Portugal
Romania Slovakia Slovenia Finland Sweden

Who Is Excluded?

The new visa facilitation rules have clear boundaries. Turkish nationals applying for visas for professional reasons, such as truck drivers and other occupational categories, will not be eligible for the updated system. Similarly, third-country nationals residing in Türkiye who are not Turkish citizens will continue to be subject to the standard Schengen visa application procedures.

This limitation is designed to prioritize personal and tourism-related travel for Turkish citizens with proven histories of compliance and repeated visits to Schengen areas.

Official Statement from the Trade Ministry

Minister of Trade Ömer Bolat commented on the new measures by stating: “For those who have received a visa for the first time, in their second applications, it will be possible to obtain long-term and multiple-entry visas, starting from up to 6 months and extending to 1 year, 2 years, 3 years, and eventually 5 years.”

His statement reinforces the European Commission’s objective to reward trusted travelers by minimizing administrative burdens and maximizing convenience for repeat applicants.

What This Means for Turkish Travelers

The move reflects a broader shift in the EU’s approach to visa policy, balancing border control with traveler convenience. By easing access for compliant travelers, the Schengen zone could see increased tourism and business exchanges from Türkiye, a country with deepening ties to Europe.

Frequent Turkish travelers—especially those working in academia, business, and tourism—are likely to benefit the most. This policy could also reduce waiting times at consulates and streamline embassy workloads by lowering the frequency of repeated short-term applications.

While the new rules may not change the experience for all applicants, they mark a significant improvement for thousands of Turkish citizens who travel frequently and seek easier mobility across European borders.



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