£1.5m for holiday cottage booking marketplace Snaptrip
Business featured among the UK's top 100 start-ups has secured Series A round from Bestport Ventures and the London Co-Investment Fund...
Snaptrip, featured in the prestigious 2015 Startups 100 index, has taken total investment to £2.2m with a £1.5m Series A round led by Bestport Ventures with involvement from the London Co-Investment Fund.
Notable angel investors also participated in the deal including former O2 chairman Sir David Arculus, former BlackRock managing director Robin Batchelor, and Robin Skinmore; who sold his search marketing agency Epiphany for £18m.
Launched in May 2014 by Matt Fox and Dan Harrison, London start-up Snaptrip offers a marketplace for exclusive discounts on last minute UK holiday cottages and lists over 40,000 cottages on its site.
The business has previously said that it wants to become the lastminute.com of UK self-catering trips and claims over 30,000 people used its site to book cottage breaks last year.
It plans to use the investment to add new hires, expand its marketing efforts, and to focus on product development.
Snaptrip co-founder and CEO, Fox, commented: “For years there have been numerous last minute brands offering discounted breaks to hotels all around the world. Now there is a focused brand for the consumer who wants to book last minute holiday rental properties with exclusive discounts.”
Bestport Venture partner James Stoddart will be joining Snaptrip's board of directors. Stoddart said:
“Snaptrip’s growth trajectory in 2015 and the ability of the management team to consistently hit targets were the key reasons behind making the investment. We were impressed by the team’s expertise and unique approach to the holiday rentals sector.”