Event: 2021 Phocuswright Conference
HQ: New York, NY U.S.
Principal(s): Sachin Narode, CEO; Rachel Obenshain, President; Dheeraj Naithani, Chief Engineer; Pravin Kamble, CTO
Funding: Seed+ round nearing close. Have currently closed on $2.2M in funding.
Product Description: Xeni’s software is designed principally for travel professionals and corporate travel. Xeni offers: 1) A web-based storefront, designed to be white labeled for travel professionals and corporate travel departments. 2. A booking engine, including a marketplace and inventor 3. A travel-tailored CRM 4. A blockchain-based payment settlement engine for travel (XeniPay) which can reduce settlement time, cost, and payments related fraud.
Business Model: Xeniapp is a platform as a service. We earn money in three ways: 1) A monthly subscription for white label customers. 2) Commissions on travel booked on our platform. 3) A fee on payment settlement.
Competitors: Many competitors address one part of our offering, such as Duffle, Juniper, or Stripe
Competitive Edge: We offer an operating system for travel including bookable inventory at wholesale rates, a web-based storefront, a CRM, and a blockchain payment settlement engine.
Market Opportunity: Xeniapp sees revenue potential of over $120 billion annually based on the global potential for subscription payments, commissions, and payment settlement in travel. The current travel payments market alone is $75 billion annually, with commissions from OTA platforms on travel booked running at nearly $98 billion.
Early Customers: We have a waitlist of several thousand users in corporate and leisure travel. Our launch client is Biirdee Travel.