DIB Hotel gets SEK 3M

DIB Hotel, a Stockholm, Sweden-based developer of a hospitality marketplace raised SEK 3M ($341k) from Oscarson Invest.

DIB Hotel, founded in 2015 by Timothy Walentynowicz and Fredrik Jones and led by CEO Sammy Pergament, has developed a platform based on the idea that customers have the option of setting their own prices, by placing a bid along with some hotel preferences. The bid is automatically sent to all hotels which match the customer's preferences and the first hotel to accept the bid wins the customer.

The money will primarily be used for marketing and to improve the artificial intelligence that predicts how likely it is that various hotels will accept a specific bid before it is added. DIB targets to reach 1000 bookings per day and expand its services within Europe by the end of 2017.