ByteTravel, an innovative Spanish company specializing in technology for the travel sector, has become the first recently created technological scaleup to join the BME Scaleup market. This platform is aimed at companies in the early stages of development with proven and scalable business models.
The Market and Listings Coordination Committee has evaluated that ByteTravel meets the necessary requirements for inclusion in BME Scaleup. With this inclusion, ByteTravel is the eleventh company to submit an incorporation document to this market of BME so far this year.
The Board of Directors of ByteTravel has set an initial price of 1.26 euros per share, giving the company an initial valuation of 37.8 million euros. Renta 4 Corporate serves as the company’s Registered Advisor, while Renta 4 Banco will act as the Liquidity Provider. Auren is responsible for auditing the company’s accounts, and ByteTravel’s valuation has been carried out by BDO.
Founded in 2021, ByteTravel has quickly established itself in the travel tech sector. Through its Visagov brand, the company currently manages visas for over 70 countries and aims to reach 150 in the coming years. Their focus on auxiliary services for tourists and business travelers includes intensive use of technology, automation, biometrics, and artificial intelligence to improve operational efficiency and reduce costs for both clients and the company.
ByteTravel’s Initial Market Access Document (DIAM) is available on the BME Scaleup website, where all details about the company and its business can be consulted.
BME Scaleup focuses specifically on scaleups, companies with proven business models and in a rapid growth phase for at least three years, with a minimum revenue of one million euros or an investment of at least that amount. It provides transparency to investors and simplifies the listing requirements for companies, also being open to SMEs, SOCIMIs, and family businesses seeking their first contact with capital markets.
This market offers multiple advantages to companies, such as the ability to finance their growth, increase brand prestige and visibility, expand their investor base, drive inorganic growth, and facilitate talent attraction and retention. Listing requirements include being a public limited company, having a board of directors, being accompanied by a registered advisor, and publishing audited annual accounts. It is not necessary to have a liquidity provider or meet a minimum free float requirement.
BME Scaleup already has 14 Registered Advisors, establishing itself as an excellent option for companies looking to boost their growth through capital markets.
Source: MiMub in Spanish
