Hospitality social media platform Nocto invests in expansion in the Netherlands
Hospitality social media platform Nocto recently secured half a million euros in funding to perfect its platform, grow its team and expand beyond Rotterdam to The Hague, Breda, Utrecht, Amsterdam and other larger cities in the Netherlands this summer. The Rotterdam-based hospitality social media platform Nocto is a data-driven platform designed to connect consumers, venues, events and brands. On the app, consumers share photos and videos from venues and events. This content is visible to both their followers and users within ten kilometres. For the first time, consumers are rewarded for posting through a digital token, the Noc.
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The Noc is the digital token of hospitality social media platform Nocto
Noc’s can be spent on offers and deals from hospitality outlets. Thus, the company creates a win-win situation for consumers and the hospitality industry. With Nocto’s business platform, hospitality companies and brands can get to know their consumers through demographic and behavioural insights, promote events, offer deals and market their business efficiently. With the funds raised, Nocto wants to optimise the platform, introduce new features and further expand throughout the Netherlands.
Financing for technical developments and marketing
The need to optimise the hospitality industry has only increased in the wake of the corona crisis. The global pandemic has and had a detrimental economic impact on the hospitality industry, namely the loss of sales due to various government measures. Now that restaurants, bars and cafes are open again and with this new investment, Nocto is ready to expand and continuously improve the hospitality experience for its consumers and businesses. The €500,000 in funding will be used to grow and strengthen the tech and operations team and invest in marketing to consumers. “Corona has changed the hospitality industry forever. This crisis is the perfect opportunity for Nocto to support the hospitality industry by better matching supply and demand,” said David Franzén, CEO of Nocto. The financing is provided by Ipronto and 4Innovations. In addition to their cash contribution, 4Innovations is connecting Nocto with their technical partner for future technical developments. Currently, the focus of Nocto is on the Dutch market, but expansions to Curacao and other international cities are already being investigated given the scalability of the product.
Up-to-date insights for consumers and hospitality businesses
The startup was founded in 2017 by CEO David Franzén and COO Mark Brouwers, when they realised that existing social media platforms could not provide up-to-date insights for consumers to make informed decisions about where they want to spend their time. They also realised that the time, money and effort that hospitality companies put into reaching their target groups needed to be optimised. “The world is becoming increasingly digital and data-driven. We discovered that hospitality companies and brands are not using the full potential of data and marketing”, says Mark Brouwers, COO of Nocto. Nocto provides a solution to these problems and strives to create a seamless and enjoyable hospitality experience for its users and to maximise revenue for its clients.
About Hospitality social media platform Nocto
Nocto is a data-driven social media app that creates interaction between consumers and hospitality venues. Consumers find, share and enjoy the best hotspots, while bars, clubs, restaurants, lunchrooms and hotels effectively attract and connect with new and existing guests. The hospitality social media platform was founded in 2017 by David Franzén and Mark Brouwers. Originating from the inefficiency of nightlife, Nocto’s co-founder and CEO David Franzén wanted a solution to this classic question “what are we going to do tonight?”. In a society that is more digital and connected than ever, there are plenty of opportunities for people to help each other find the best places. Nocto is The Future of Hospitality!
Recently we also wrote about the social media platform: Social Eats.
Website: Nocto App