In 2021, HalalBooking, the world’s leading platform for halal-friendly travel, not only fully recovered to pre-pandemic levels but even reported a record year. 2021 sales were $36 million, which was significantly higher than 2019’s figure of $31 million not to mention 2020’s sales of just $8 million. The overall profit margin on sales (equating to the OTA commission level) was 17%, and the company made over $1 million net profit for the first time in its history.
In the first quarter of 2022, HalalBooking’s growth accelerated even further with the company recording $9.3 million of sales, which is a very high number for Q1, given the seasonality of the business. This figure represents almost 200% YoY growth in comparison to the same period in 2021, which has led the company to expect huge growth in Q2 and Q3, which are the peak sales quarters for the business. For 2022, the annual total of the company’s conservative forecast had been estimated at 67% organic YoY growth, but the firm is now investing more in its lead acquisition activities. It is hoped that sales growth will exceed 100% and the company may even reach $100 million sales for the first time in its history.
HalalBooking hopes to complete a $20M Series B investment round in Q2, of which $5M has already been secured. The Series B round aims to accelerate the company’s already exponential growth rate and achieve $1 billion unicorn status by 2025.
The company has also developed many additional new technological functionalities during the first quarter of 2022, the most notable of which is the ability to search for rooms and villas with leisure facilities such as pools, by filtering according to the degree of privacy they offer, which is especially important to halal-conscious families and ladies. The feature, known as seclusion, varies from part-secluded to mostly-secluded to fully-secluded.