MOVE receives €7 million to revolutionize package travel market

Munich, Germany — MOVE, an Israel-based vaca­tion booking plat­form, today announ­ced that it has successfully raised €7 million in the first closing of its funding round. The invest­ment by inves­tors from Israel and promi­nent Munich-based family offices is expec­ted to acce­le­rate MOVE’s expan­sion into the Euro­pean market, follo­wing the company’s remar­kable success in the Israeli market. The invest­ment was broke­red by ennea capi­tal partners.

Laun­ched in Febru­ary 2022, MOVE’s ground­brea­king plat­form offers perso­na­li­zed, machine-cura­­ted vaca­tion packa­ges that allow users to effort­lessly and quickly book custo­mizable leisure travel. In its first year of opera­tion, the company achie­ved €4 million in annual recur­ring reve­nue and €42 million in sales, proving the effec­ti­ve­ness of its tech­no­logy and busi­ness model.

Erez Bousso, CEO of MOVE, said, “We are thril­led with the confi­dence our inves­tors have placed in our vision and tech­no­logy. Their support will enable us to revo­lu­tio­nize the Euro­pean vaca­tion travel market and conti­nue to deli­ver outstan­ding value to our customers.”

With 300,000 monthly active users in Decem­ber 2022 and a 9/10 user refer­ral rate, MOVE plans to capture a signi­fi­cant share of the €350 billion addressa­ble market in Europe. The company’s manage­ment team consists of expe­ri­en­ced execu­ti­ves with proven track records at leading compa­nies such as lastminute.com, CWT and Expedia.

Günter Ehwei­ner, repre­sen­ta­tive of Roland Berger, one of the inves­tors, commen­ted, “MOVE’s plat­form is a game-chan­­ger in the vaca­tion travel indus­try, offe­ring unmat­ched speed, conve­ni­ence and perso­na­liza­tion for custo­mers. We are exci­ted to invest in a company that is alre­ady show­ing impres­sive growth and has the poten­tial to change the way people book their vacations.”

MOVE’s plat­form connects depar­ture airports with city breaks and sun & beach vaca­tion desti­na­ti­ons, offe­ring custo­mers a 7 percent price advan­tage. The company’s omni-chan­­nel marke­ting stra­tegy has resul­ted in market-leading Unit Econo­mics, with conver­sion rates two times higher and bookings five times faster than tradi­tio­nal platforms.

With an ambi­tious goal of achie­ving sales of more than €55 million by 2025, the company plans to use the funds raised to expand its presence in Europe, streng­then part­ner­ships with leading media houses and further deve­lop its state-of-the-art technology.

About MOVE
MOVE is a state-of-the-art vaca­tion booking plat­form that offers perso­na­li­zed, machine-cura­­ted vaca­tion packa­ges. With a mission to revo­lu­tio­nize the travel indus­try, MOVE combi­nes tech­no­logy and conve­ni­ence to provide a seam­less expe­ri­ence for custo­mers seeking unique, custo­mizable leisure travel. For more infor­ma­tion, visit www.wearemove.io.

About ennea capi­tal partners
ennea is a leading M&A, invest­ment and advi­sory firm focu­sed on the Euro­pean travel indus­try. We are the part­ner of choice for foun­ders and inves­tors to acce­le­rate their ambi­ti­ons in buil­ding, scaling and selling market-leading companies.
www.ennea.vc