Sion, an Oceanport, NJ-based platform that manages commission payments for travel advisors and agencies, raised 3.2M in Seed funding.
The round was led TIA Ventures with participation from SmartFlyer and Virtuoso.
The company intends to use the funds to accelerate product development and create automated commission chasing, ramp up integrations, and launch a new payment processing system.
Led by CEO Irving Betesh and COO Alfons Musry, Sion is a technology company serving the needs of the travel advisor industry with a software platform for commission tracking and payment reconciliations. Once a travel booking is made, Sion automates all the core elements including the payment status, commission split, supplier invoicing and interactive real-time reporting. When agencies work with Sion, they can spend less administrative time and energy getting paid, enabling them to focus their energy on their own travel clients and winning more business.
With more than 1,500 agents subscribed to the platform, the company is currently managing approximately $2.2 billion in booking revenue.
FinSMEs
08/12/2022