The Board of Directors of BME Scaleup has approved the incorporation of BYTETRAVEL next 18th July once all the documentation submitted by the company has been analyzed and studied and the favorable evaluation report of the Market Coordination and Incorporations Committee has been issued. It is the eleventh company to join this BME market, which has just turned one year old, and also the first newly created technology scaleup company.
The Board of Directors of the company, has taken as a reference for the start of the trading of the shares a price of €1,26 per share, which implies a total valuation of the company of €37.8 million.
The company's trading code will be “SCBYT”. The company's Registered Advisor is Renta 4 Corporate, while Renta 4 Banco will act as Liquidity Provider.
BYTETRAVEL’s profile fits with the philosophy of BME Scaleup, BME's marketplace aimed primarily at early stage companies with a proven and scalable business model that wish to drive growth through the capital markets.
BYTETRAVEL is a young Spanish company founded in 2021 specialised in the traveltech sector and focused on creating ancillary services for tourists and business travellers from all over the world. They currently manage visas for more than 70 countries and expect to reach 150 in the coming years. This service operates under the European Visagov brand, and in just 3 years it has become an international benchmark.
The company also aims to create and operate complementary services for tourists and business travellers, through the massive use of technology, automation, biometrics and artificial intelligence to help customers save time and, at the same time, reduce operating costs for society.
The Initial Market Access Document of BYTETRAVEL is available on the BME Scaleup website, where all the information regarding the company and its business can be found.
BME Scaleup is aimed especially at scaleups, companies with a proven business model, in an accelerated growth phase for at least three years, with a minimum turnover of one million euros and/or an investment of at least that amount. This market, which offers the necessary transparency to investors and simplifies the incorporation requirements for companies, is also open to other types of companies such as SMEs, SOCIMIs or family businesses seeking a first contact with the capital markets.
Among the advantages of BME Scaleup for companies are its ability to boost growth with funds for financing, obtain greater prestige and brand visibility, the possibility of expanding its investor base, the boost to inorganic growth and greater ease of attracting and retaining talent.
To be listed on this market, a company must be a public limited company, have a board of directors, be accompanied by an advisor registered in the market and publish audited annual accounts. It is not necessary to have a liquidity provider or to comply with a minimum free float.
BME Scaleup already has 14 registered advisors.