New Zealand-based travel and expense technology company Serko is planning a NZ$45 million ($28.7 million) capital raise to accelerate the global presence of its online travel platform Zeno, with Booking Holdings as the cornerstone partner.
Booking Holdings is investing NZ$17.5 million ($11.2 million), resulting in a 4.7% stake in Serko.
The deal expands previous agreements by allowing Booking.com to offer and promote Serko Zeno to its business travel customers.
As part of the new agreement, Serko will integrate Booking.com content into Zeno.
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