About Company

• TBO Tek Limited (“TBO Tek”) was incorporated on November 6, 2006. The company is one of the leading travel distribution Platform in the global travel and tourism industry in terms of Gross Transaction Value (“GTV”) and revenue from operations providing a wide range of offerings operating in over 100 countries. Their platform connects over 159,000 Buyers across more than 100 countries with over 1 million Suppliers, as of December 31, 2023, by providing Buyers with a comprehensive travel inventory according to the needs of their customers; and supporting a wide range of currencies along with forex assistances.

• The company simplify the business of travel for Suppliers such as hotels, airlines, car rentals, transfers, cruises, insurance, rail and Retail buyers such as travel agencies and independent travel advisors and Enterprise buyers that include tour operators, travel management companies, online travel companies, super-apps and loyalty apps, through their 2-sided technology platform that enables Suppliers and Buyers to transact seamlessly with each other. Enterprise buyers usually use their Extensible Markup Language (“XML”) or JavaScript Object Notation (“JSON”) application programming interface (“API”) to transact through their platform.

• The online channel further can be divided into 3 sub-categories: (i) direct online channel; (ii) online travel agencies; and (iii) meta-search platforms. The offline channel customers are generally either first-time travellers or experienced travellers from mature markets with a complex itinerary.

• The company has 2 key revenue models for their transaction, i.e., B2B Rate Model where they receive inventory from Suppliers on which they apply a certain mark-up and pass on to the Buyers and Commission Model where their Suppliers fix the price at which they want to sell to the end traveller on which receive commission from the Supplier part of which the company retain and part of which they share with the Buyer.

• The number of Monthly Transacting Buyers has increased at CAGR of 53.57% from 10,401 for Fiscal 2021 to 24,530 for Fiscal 2023. They had 26,436 Monthly Transacting Buyers for the 9 months ended December 31, 2023.

• The acquisition of BookaBed, giving them access and presence in the Irish and the United Kingdom markets. They have recently launched their new brand Kizan to drive focus on inbound tourism business in the Kingdom of Saudi Arabia. They launched Zamzam for Umrah travel, and Paxes for the corporate travel market.

Strengths

Competitive Strength 

• Platform creating network effect with interlinked flywheels to enhance value proposition for partners;

• Modular and scalable proprietary technology platform allowing addition of new lines of business, markets, and travel products;

• Ability to generate and leverage large data assets;

• Data driven decision making across the enterprise;

• Founders’ led company supported by experienced professional management team with deep travel and technology expertise;

• Capital efficient business model with a combination of sustainable growth.

Business Strategies 

• Strategic vectors that contributed to rapid growth;

• Expand Buyer and Supplier base;

• Continue to amplify the value of the platform;

• Continue to amplify the value of the platform;

• Use data as a corporate currency.

Company Promoters

Company Financials

TBO Tek Limited Financial Information (Restated Consolidated)

TBO Tek Limited's revenue increased by 112.09% and profit after tax (PAT) rose by 340.4% between the financial year ending with March 31, 2023 and March 31, 2022.

Objects of the Issue

The company intends to utilize the net proceeds from the issue towards the funding of the following objects:

1. Expansion of the Supplier and Buyer base;
2. Amplification of value of our platform by adding new lines of businesses;
3. Inorganic growth through selective acquisitions and building synergies with our existing platform; and
4. Leveraging data procured to offer bespoke travel solutions to our Buyers and Suppliers.