Fosun RZ Capital leads $6.75m Series A round in Israeli hotel booking platform Splitty

A Club Med resort. Fosun became a majority shareholder in Club Med in 2010. Photo: Fosun website

China’s Fosun RZ Capital has led a $6.75 million Series A round of funding in Israeli hotel booking platform Splitty, according to an announcement.

Other investors including 2bAngels, Techstars Ventures, Cockpit Innovation and 11-11 ventures participated in the round.

Fosun RZ Capital is the venture capital arm of Fosun International, a Chinese international conglomerate and investment company headquartered in Shanghai. It also has an operation in Hong Kong.

Splitty will use the funds to expand its team and accelerate its global market growth in the coming years.

Founded in 2015, Splitty offers unique hotel prices by splitting and combining multiple bookings under one reservation. Splitty analyses and splits over 1.5 million transactions to create exclusive deals in one second. The platform serves over 500,000 properties in 127 countries.

“Our investment strategy in Israel will be more focused on high-end technology, which aligns strategically with what we have in the China market,” Fosun RZ chairman Jin Hualong said, in a statement.

“Splitty will be a landmark in Fosun RZ Capital’s travel tech distribution. With its ‘Split & Match’ technology, Splitty has driven the innovation of the traditional OTA model and provided the best solution for both users and hotels,” he added.

Currently, Splitty provides room booking options mainly in Europe and America. Since China has become the largest consuming market in the international tourism industry, the company is planning to expand its business in the Asian market right after the completion of this round of financing.

For Fosun RZ Capital, the latest deal will help broaden its travel portfolio across markets. Last year, it led a $12 million funding round in transport aggregation services provider LetsTransport.

Its other portfolio companies in the travel and tourism space include Ixigo in India and Shijie Bang, a Beijing-based travel agency specializing in outbound international services, among others. Besides, Fosun’s insurance arm has an investment India’s largest online travel agency MakeMyTrip.

Also Read:

China’s Fosun to adopt asset-light strategy for new Club Med resorts

NestAway in talks with Fosun, other Chinese investors for funding

STORY Logistics platform LetsTransport raises $12m from Bertelsmann India, Fosun 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

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Following vacancies can be applied for (only in Singapore).   

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  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.