MarginFuel convertible note to drive push into Europe
by MarginFuel, on Aug 31, 2021 10:51:04 AM
MarginFuel, the only car rental focused revenue management platform with proven demand forecasting and competitive intelligence, recently closed an oversubscribed convertible note to fund the company’s European expansion.
The investment round was largely funded through existing shareholders, including technology-focused venture funds and experienced tourism professionals, with the funds earmarked to enhance the already world-leading technology for car rental operators.
Having refined the product over several years in its home markets of Australia and New Zealand, MarginFuel’s expansion into Europe represents a new phase for the company and an opportunity to help operators in the region to deploy intelligent pricing, at scale, with greater confidence.
Andrew Pascoe, founder and CEO, says:
"Some customers in Europe are using the platform to update over a million optimised prices daily. MarginFuel has been using machine learning and AI forecasting in its platform for over five years; this funding will only enhance these features and let more European operators thrive in the very dynamic world of pricing.
"Getting the price right at scale is a massive pain point for operators. By using MarginFuel, operators combine forecast demand and competitive intelligence to optimise their prices in the right sales channel at scale."
MarginFuel considers New Zealand home but now has key people around the globe, with in-market resources growing especially in Europe.