Netherlands-based hotel booking service Bidroom has secured a Euro 1 million funding round in a bid to “chip away” share from the giants of the industry.

The company says the investment has come from a group of “informal” backers.

The founders expect to use the financing to expand the salesforce and local teams in Germany, Spain and Greece, as well as develop the company’s platform.

The two-year-old company claims it is trying to claw back some ground from the likes of Expedia and Booking.com by offering discounts on the existing lowest possible rates from hotel partners.

It works on an extremely low 2% commission rates and at this stage has some 14,000 hotels on its portfolio.

Bidroom is gradually adding bed and breakfast, apartments and rental properties.

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