“It is a large investment. Although we can not provide details of how much equity the investors have, I can guarantee that this investment gives Nustay a valuation that is unprecedented for a Danish startup,” says Mathias Lundø Nielsen
He confirms to Trendsonline that the valuation is at a 7-digit dollar amount – probably in the higher end. A large amount, even if it is hard to say if really unprecedented, it proves that there are high hopes for the team and the idea.
First one, then multiple investors
Originally Nustay was set to close € 1 M in seed funding from the London-based AppIdea, for a 20% stake of the startup. However, due to chaning circumstances that did not happen. Instead they agreed on a smaller investment, making room for more investors to join instead. AppIdea ended up investing $ 125 000 instead, and Danish entrepreneur Magnus Kjøller and his team investing $ 350 000, making the round a total of $ 500 000.
“We chose Magnus Kjøller and his team because they have shown strong results in e-commerce and online entrepreneurship. It is essential for a project like ours, when we not only need funding – we also need a global network and good sparring, and it may Magnus Kjøller and his team offer in abundance.” says Mathias Lundø Nielsen.
Platform to help luxury hotels
Nustay is a service that acts as a platform to help luxury hotels find guests. The novelty of Nustay is that they give hotels the opportunity to send unique offers for each guest – they are seeking to create a perfect match between the specific hotel and the individual guest. This they do with a self-developed algorithm that ranks the guests from their profile, interests and consumption patterns. Founder Mathias Lundø Nielsen has high hopes for the platform’s potential.
“We have cracked the code and solved a number of problems for luxury hotels and guests, that no-one has been able to do before. The question is not whether there is a basis for a good company, the question is rather how large can such a company grow.” Mathias told Trendsonline.
You can read more details in the Trendsonline article.