Nizkocenovci said it would use the cash to develop the platform, penetrate foreign markets and optimise the product.

The search engine, www.nizkocenovci.com and www.goavio.com, currently helps travellers find the cheapest flights across Europe, but the company aims to use the new cash to develop the platform into a search engine for finding routes that combine all modes of transport.

Nizkocenovci does not want to compete with big players such as Skyscanner and Kayak, it wishes to cooperate and develop new technologies for finding various forms of transport, said the boss of the company, Matej Gaser.

"We've already developed the basic technology to find travel combinations. We expect it will be implemented in the search engines by the summer," he adds.

The company, which has about 12,000 monthly users, plans to generate up to EUR 15m in revenues by the end of the year and wants to expand first on European markets, such as Germany, where it will test its platform.

Nizkocenovci's long-term goal is expansion to Asian markets, which will be trickier, according to Gaser.

Nizkocenovci's latest funding round values the company at around EUR 1.5m.