Smartpricing
Eugenio Bancaro, Luca Rodella and Tommaso Centonze [Credit: Smartpricing]

Smartpricing closes €13m Series A funding round

Italy: Hospitality revenue management software startup Smartpricing has raised €13 million in a Series C funding round, made up of €11 million in equity and €2 million in bank credit lines.

The round was led by global tech investment firm Partech [a first investment through its new Partech Venture], with participation from Gianluca D’Agostino [founder and managing partner of The Techshop, who participated in Smartpricing’s €1.8 million seed round in 2022], Azimut Digitech Fund, supported by FNDX, and the founders of Milan-based mobile app / software company Bending Spoons.

Smartpricing wants to use the funding to expand its rate management solutions for the hospitality industry and continue developing its AI-powered technology. which streamlines operations and optimises pricing for vacation rentals, B&Bs, hotels and resorts.

Luca Rodella, co-founder and CEO of Smartpricing, said: “We had a lineup of potential lead investors, but Partech stood out with their market expertise and the approach of Simone and the people involved in the process. They are the perfect partners to fuel our high aspirations and global expansion goals.

“Notably, this round, in a challenging investment climate, was one of our region’s largest, spotlighting a 100 per cent Trentino company’s impressive achievements.

“We’re just at the beginning of a journey that will lead us to revolutionise how tens of thousands of facilities worldwide operate with innovative solutions currently unmatched in the market,” he added.

Founded in 2020, Smartpricing is currently active in 17 countries and is used by more than 3,000 hosts around the world. The startup retains a particular focus on the Italian and DACH [Germany, Austria and Switzerland] markets, and is targeting further expansion in the hospitality industry by launching more products.

Using a proprietary algorithm that processes market, saturation and pricing trends data across global markets, Smartpricing calculates the optimal price to enhance the performance of hospitality businesses, including maximising occupancy rates and average prices per room.

Simone Rica, senior principal at Partech, said: “We are excited to collaborate with Luca, Eugenio and Tommaso to create a global leader in hospitality industry software. Over the past 12 months, the team has shown exceptional execution skills, strategic clarity, and ambition on par with other success stories in our portfolio.

“We believe Italy, with its burgeoning hospitality market and fragmented software landscape, is an ideal starting point. Our funding aims to consolidate our position in the Italian and German-speaking markets and venture into new high-potential territories, as we’ve successfully done with other SMB software investments,” added Rica.

Gianluca D’Agostino, co-founder and managing partner of The Techshop, said: “The journey started in spring 2022 with the Smartpricing founders continues, the goals become even more ambitious. After leading the 2022 seed round, we’ve been part of the company’s rapid growth and have helped bring about this exciting new funding chapter.

“We’re eager to join forces with a European-level investor like Partech to further nurture Smartpricing’s SaaS evolution and expansion in Italy and beyond,” he added.

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