Software developer

Croatian software developer Infinium invests in travel tech company Rentlio

ZAGREB (Croatia), February 8 (SeeNews) – Croatian software developer Infinum said it has become a shareholder in travel technology company Rentlio through its investment subsidiary Infinum Ventures.

“The company’s portfolio includes more than 8,000 accommodation units in more than 40 countries, a team of more than 20 tourism technology experts and an average annual growth rate of 77%,” Infinium said in a statement. published Monday on its website, without giving further details. the value of the investment or the size of the stake acquired.

“We see our cooperation with Rentilo above all as a partnership. We knew that Renitlo, as a stable company and market leader in terms of digitization in tourism, would not cooperate with just any partner and we are happy to have partnered up,” said Bojan Bajic, Head of Marketing at Infinium, in an email. statement to SeeNews on Monday evening.

Rentilo reported revenue of 4.3 million kuna ($652,000/572,000 euros) in 2021, up 26% on the year, according to its website. The company has 21 employees.

Rentlio is a software-as-a-service company established in 2015 in Zadar. It provides a reservation management system for the hospitality industry. Its hotel and vacation rental operations solution centralizes and automates the management of reservations, sales channels and customers.

“The accommodation services segment of the hospitality industry is far behind the digital age. It is suffocating in outdated systems, while the modern guest expects a seamless, instant and digital experience,” Marko said. Misulic, CEO and founder of Rentlio, in a press release. on the Infinium website.

Rentilo plans to expand into Italy, Portugal, Spain and Vietnam, where it already has a large user base.

“We are mainly focused on growing and developing the businesses we started: Infinium, Productive i Porsche Digital Croatia. Of course, we are always on the lookout for talented companies and founders that we could cooperate with,” Bajic said in response to a question about whether the company was planning any further acquisitions this year.

According to a report by news portal PoslovniPuls, Infinium’s revenue in 2020 increased by 38% to 80 million kuna.

(1 euro = 7.521 kuna)