Mews, the Prague-Based Cloud Hospitality Software Company, obtains a valuation of USD 1.2 Billion

Mews, a leading European cloud-based Hospitality Software Company, co-founded by Richard Valtr and led by CEO Matthijs Welle, has achieved a $1.2 billion valuation. This milestone comes after securing $110 million in funding, with Kinnevik as the lead investor, along with participation from Revaia, Goldman Sachs Asset Management, Notion Capital, and LGVP.

“We’re seeing a fundamental shift in the way the world’s leading hospitality brands are accelerating their digital transformation and reshaping the way they deliver hospitality,” says Richard Valtr, Founder of Mews.

He adds, “With this raise we will continue to build industry-leading products with a world-class team behind us. In five years, the way that hospitality brands and guests interact with each other will be completely different, with Mews leading the way.”

Matt Welle, CEO of Mews, stated, “This funding is a credit to the strength of our vision, the Mews team, our forward-thinking customers and committed investors who have helped us get to where we are today.”

Currently, Mews has 13 investors, including Kinnevik, Notion Capital, and LGVP.

The company is revolutionizing the hospitality industry with its advanced technology and integrated solutions, resulting in simplified operations.

“As more hoteliers embrace modern technology, we have a huge opportunity to help them streamline their operations, build more profitable businesses and deliver personalized guest experiences. Mews is in a unique position to truly transform the industry,” said Matt Welle.

Both Richard Valtr and Matthijs Welle, former hoteliers with a strong knowledge of the hospitality industry, founded Mews in 2012. Richard serves as the company's President and Founder, while Matthijs holds the position of CEO.

Mews’ Cloud-based Property Management System (PMS) assists hotels, hostels, and apartment rental providers in simplifying their operations by automating guest management, inventory management, manual tasks (such as billing), bookings, and payments, which helps transform the guest experience.

Headquartered in Prague, Czech Republic, Mews serves a wide range of global markets, including North, Central, and South America, Europe, APAC, and Africa. It currently supports more than 5,000 hotel customers across over 85 countries.

In 2023, it generated more than USD 5 Billion in payments. It also saw an increase in revenue of more than 60 per cent, year after year, crossing USD 100 Million in annualized net revenue.

According to lead investor Kinnevik, the hospitality software and payments market is currently sized at over USD 20 Billion and its Compound Annual Growth is expected to grow at a rapid rate of 11 per cent, till 2030.

In an interview with TechCrunch in 2022, the company's founder, Richard Valtr, said, “We think of ourselves as the platform on which businesses in our vertical are run. We take a broad brush approach with our ambitions. Mews nominally looks after hotels and hospitality, but that could be hostels or Airbnbs or services for people in mixed-use real estate. Longer term, we feel that what is considered commercial or residential is melding. This is the direction all real estate is going. What is happening post-pandemic is that more are realizing they want to live more of their travel life more of the time.”

Alexander Lippert, Managing Director in Growth Equity at Goldman Sachs Asset Management, in a statement, said, “Mews is making a transformative impact to support some of the most innovative hospitality brands around the world as cloud adoption accelerates across the USD 15.5 Trillion global travel and tourism industry.”

Mews' success can be attributed to securing substantial funding from investors, strategic acquisitions, as well as forming partnerships with other technology providers to enhance its platform's capabilities.