Snaptrip, the UK’s biggest last-minute self catering provider, has announced the raising of a late seed round that takes total investment in the company beyond $1 million in less than 12 months.
London-based Snaptrip aims to completely dominate the UK market with the largest inventory of self catering holiday accommodation, ranging from cottages and houses to apartments and more unusual properties. The average saving on booking last minute, rather than 8-12 weeks ahead of travelling, is almost £100. Snaptrip will cater for travellers looking to book based on late availability deals, rather than the destination.
Additionally, Snaptrip also offers exclusive discounts to members who sign up, meaning the brand has a unique discounted inventory, highly targeted based on the user’s search history and preferences, which is otherwise unavailable on any other self-catering site. This model of flash sales has proven particularly successful for numerous brands in the hotel sector and Snaptrip aims to be the first to bring it to the self catered market. The team of 10 now aims to grow this membership model alongside the introduction of other unique search parameters.
Snaptrip’s funding round from a list of well-respected angel investors is a reflection of the traction that the company has gained in the 7 months since it went live in April 2014, increasing inventory from 250 to 15,500 properties. The brand now has impressive plans to bring the late booking concept to the self catering market, with live and accurate inventory and pricing, something previously unseen in the UK.
Original investor Forward Partners followed on in this latest round of funding, giving the company a longer 12-18 month runway to further secure its position as the best last-minute self catering solution. The investment will be used to finance the aggressive growth strategy that Snaptrip intends to pursue in 2015.
Matt Fox, Snaptrip CEO, said: “We have worked hard to bring together a group of investors that have proven credentials within the UK startup ecosystem. Their experience and connections will prove invaluable as the company continues to progress and expand. We’re doing a number of things very differently – we’re proving that it’s never too late to book and that if you wait, you can save up to 50% on a break – we want people to be spontaneous, enjoy more leisure time and think more about when to go and not where.”
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