LatBAN invests €120K in traveltech startup Rebookify

Members of the Latvian Business Angels Network (LatBAN) invested €120K in traveltech startup Rebookify. Another €80K was invested in the company by venture capital fund 500 Global.

Rebookify is a traveltech startup founded by Latvians Matiss Reinis Purins and Agris Ameriks. The platform created by the company allows travel agencies to automatically track refundable hotel bookings and determine when more favorable rates become available. The company's proprietary artificial intelligence system compares identical room offers from different suppliers and notifies agents in real time.

The funding will be used to expand the Rebookify team, automate adaptation, and scale sales in the UK and European markets.

LatBAN is a Latvian business angel network that was founded in April 2014. It helps business angels make investments throughout the Baltic region offering training, advice, and co-investment opportunities.

500 Global (formerly 500 Startups) is an early-stage venture capital fund and seed accelerator founded in the United States in 2010 by Dave McClure and Christine Tsai. The fund invests in startups around the world and supports companies operating in industries such as technology, healthcare, fintech, and artificial intelligence.