(PRLEAP.COM) July 23, 2007 (Sofia, Bulgaria) – Lessno.com, a new discount airfare website, today announced that it has received €3 million in Round A financing from New Europe Venture Equity (NEVEQ), Bulgaria’s first private venture capital fund. Lessno.com will use the money for product development, expanded staff and marketing.

The investment in Lessno.com is the first made by NEVEQ, which currently has €22.5 million under management. The fund intends to make up to ten investments in information technology and internet companies in Bulgaria, Romania and other locations in Southeastern Europe. Investment amounts will range from €500,000 to €5 million.

Lessno.com was founded in April 2006, to address the void left by the disappearance of the neighborhood travel agent. With some of the best minds in business driving the company, it has already been able to foster partnerships with the world’s best discount airlines. Since the beginning of 2007, the company has experienced tremendous growth from three employees to 35. Lessno.com has also expanded from its original office in New York, New York, to offices in Philadelphia, Pennsylvania, and Sofia, Bulgaria. Additionally, it has formed distribution partnerships with five leading travel aggregators.

"This investment is a great sign of support from NEVEQ for our plan to grow Lessno.com and build upon the progress we’ve made so far," said Assen Vassilev, co-founder of Lessno.com. "We have great plans for the future of the company and the impact we will make on the travel industry. Bringing fair fares to our customers is at the heart of everything we do, and we’re glad to have NEVEQ’s financial backing."

"We are interested in start-ups that have a pipeline of globally marketable IT products and solutions," said Pavel Ezekiev, managing partner of NEVEQ. “More than that, Lessno.com also has one of the best management teams we’ve seen, and we’re confident they’ll deliver us a significant return.”

About Lessno.com
Lessno.com is a joint venture of the Smart Travel Network and EZsearch. The company was founded as an independent discount travel website to offer fair fares to travelers. The experience of Smart Travel allows the company to negotiate special discounts directly with a number of airline partners and offer unbeatable airfares to the most loyal customers. The proprietary search technology of EZsearch makes finding these airfares fast and simple and saves customers time and money. For more information on Lessno.com, visit our website at www.lessno.com.

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