Booking venues for corporate events can be a complex process, often requiring negotiations with multiple vendors, cost evaluations, and internal approvals. French startup Naboo aims to simplify this by offering a marketplace that combines accommodation, catering, activities, and transport into a single platform.
The company also provides a SaaS-based solution tailored for MICE (Meetings, Incentives, Conferences, and Exhibitions) events, allowing large corporations to manage procurement policies, approval workflows, invoices, and payments in one place. By centralizing spending, the platform helps businesses maintain budget control and streamline event planning.
Naboo’s model appears to be gaining traction. In 2024, its booking volume surged to €60 million from €15 million the previous year. While most of this value goes to service providers, Naboo earns an average commission of 17%, comprising a 10%-12% fee from vendors and a 5%-6% charge to clients. This resulted in approximately €10 million in revenue for the company last year.
Several major corporations, including Google, Société Générale, Veolia, Arkema, Thales, and Qonto, have used the platform. Additionally, 10% of French public companies listed on the CAC40 index are among its customers, with ten contracts generating over €1 million in annual booking volume.
To support its expansion, Naboo secured a €20 million ($21 million) Series A funding round led by Notion Capital, just 11 months after its seed round. The company plans to use the capital to automate manual processes currently handled by project managers. Naboo, which employs 140 people, including 20 freelancers, also aims to grow internationally, starting with the U.K., where it has already launched and generates 10% of its revenue.
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By Proptechbuzz
By Ravi Kumar
