UAE Travel Startup Prepares for Saudi Takeoff

A burgeoning digital landscape and a large expatriate community in Saudi Arabia have enticed UAE travel tech company Tumodo to set its sights on regional expansion. Buoyed by a successful $35 million funding round, Tumodo is gearing up for a strategic Saudi foray, aiming to establish a dominant presence in the kingdom's travel sector.

Tumodo's co-founder, Vladimir Kokorin, outlined the company's ambitious plans in a recent interview. "The year 2024 marks the beginning of our accelerated growth trajectory," he declared. The company has set a target of reaching a staggering $100 million in sales by early 2026. "By the close of 2025," Kokorin elaborated, "we aim to achieve an annualized turnover of $123 million."

The company's Saudi expansion strategy hinges on establishing a robust presence across the kingdom's major cities. Jeddah, Riyadh, Dammam, Makkah, and Medina are all slated to be key battlegrounds, with Tumodo aiming to secure a strong foothold by the end of 2025. Kokorin revealed plans to onboard around 800 clients across Saudi Arabia within the same timeframe.

This ambitious Saudi expansion comes on the heels of a significant funding milestone for Tumodo. The company's $35 million pre-seed round will not only fuel its Saudi foray but also propel it towards profitability in existing markets. Furthermore, the funding paves the way for expansion into new territories, with India and Germany identified as potential future destinations.

Tumodo's Saudi expansion strategy aligns perfectly with the kingdom's Vision 2030, a far-reaching economic and social reform plan that emphasizes diversification and digitalization. The burgeoning travel and tourism sector in Saudi Arabia, fueled by government initiatives and a growing middle class, presents a lucrative opportunity for travel tech companies like Tumodo.

The company's core offerings – which encompass corporate travel management, expense management, and visa processing – cater to a specific niche within the Saudi market. The large expatriate population in the kingdom, coupled with an increasingly mobile local workforce, creates a significant demand for streamlined corporate travel solutions. Tumodo's digital platform promises to address this demand by offering a user-friendly interface and efficient travel management processes.

With its ambitious expansion plans and a strategic focus on the Saudi market, Tumodo is poised to become a major player in the region's travel tech landscape. The company's success hinges on its ability to capitalize on the digital boom in Saudi Arabia and cater to the evolving needs of both corporate and leisure travelers.

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