Latvian BADideas.fund invests €170k in Swiss startup RoomPriceGenie
Riga-based BADideas.fund has invested €170,000 in a price management software provider for hotels RoomPriceGenie. This is a non-typical agreement for BADideas.fund, as it is outside its primary focus on early-stage CEE startups, the fund said in its blog.
- Founded in 2017 by Ari Andricopoulos, Marvin Speh, and Jörg Siegel, RoomPriceGenie helps set and manage prices for rooms in small and medium-sized hotels. The company’s automated pricing solution analyses data (up to 500 properties, which are located nearby the hotel) to understand how the market works in the area.
- RoomPriceGenie’s software can be used by managers without experience in price management systems. The company claims that it helps hotels and serviced apartments to increase revenue by 15-20%.
- BADideas.fund was launched in April 2022. It focuses on pre-seed and seed-stage startups from Baltics and CEE region. The typical ticket size is €100,000. The fund has more than 40 business angels, founders, executives, and employees of Bolt, Vimeo, Printify, PandaDoc, Pipedrive, and others. Among recent investment is $1 million round for Indonesian fintech Finfra.
“RoomPriceGenie addresses a very painful problem for small hotel owners – price setting and management. Even small variations in price can mean the difference between a profitable and a loss-making hotel. They address it in a very simple package, which allows hotel owners to basically set up and forget – RoomPriceGenie does all the work for them,”Daniel Marhel, the member of BADideas.fund, ex-CPO & CMO of Printify.
- The investment is not usual for BADideas.fund, because RoomPriceGenie is not a CEE startup, but the fund believes that RoomPriceGenie’s is poised to capture a substantial portion of this market with its customer-centric and easy-to-use solution and brings value to the global hotel industry.