Hotel Urbano, a Brazilian online travel company, raised $20m in Series C financing.
The round was led by existing investor Insight Venture Partners.
The company intends to use the funds to further develop its tech platform, advance new products and hire new people.
Founded in 2011 by brothers João Ricardo Mendes and José Eduardo Mendes, Hotel Urbano is an online travel agency with low rates for Hotel room, cruises and vacation packages. The company negotiates discounts from its travel suppliers to help travelers book unsold hotel rooms and vacation packages. It features offers from hotels, inns and resorts across the world (with a particular focus on Brazil and America Latina).
Hotelurbano.com employs more than 400 people based in offices in Rio and São Paulo and counts a Facebook with over 7,8 million fans.