Ortharize is a new type of business travel platform. It enables companies to cut their travel bill by rewarding their staff when they spend less on flights, hotels & trains. Ortharize aims to charge 9.5% on travel booked. In the last 4 weeks they have won contracts with 6 customers, in the private and charitable sectors.
For many companies, the second largest cost after labour is Travel & Expenses. But, most employees book their own travel, so this is a difficult cost for CFOs to control.
Ortharize provides a solution to this problem with a business travel booking platform that incentivises staff to spend less with rewards and gamification. By being more price-savvy travellers earn a share of the savings that they generate for their company.
Our customer pricing is another source of differentiation. Unlike most competitors in the corporate travel sector we don't charge booking fees or have annual charges. We feel that this, combined with our innovative incentives platform will lead to rapid take-up.
Our business model is proven. We plan to generate revenue from a combination of commissions and discounted travel which we mark-up (a similar model to Expedia and many consumer travel sites).
Ortharize have partnered with leading travel provider, Travel & Transport, to give us access to global airline and hotel inventory with pre-negotiated discounts & commissions from launch.
This round will fund an expanded sales team and help to accelerate our growth towards our next revenue milestone.
We are aiming to exit within 5 years and expect this to be through a trade sale.