TravelLocal, a renowned online travel agency specializing in tailor-made trips across 93 countries, has successfully secured 10.3 million USD in Series B funding. This round is spearheaded by Puma Private Equity, a new investor in the company, and features participation from existing backers Active Partners and Gresham House Ventures.
TravelLocal Locations and Customer Reach
TravelLocal has offices in Bristol, UK, and Berlin, Germany. The company serves customers in more than 100 countries worldwide, with a significant presence in the USA, the UK, Germany, Canada, and Australia.
TravelLocal is on a mission to offer travelers authentic, sustainable vacations by connecting them with local experts in their chosen destination. This innovative approach combines the wisdom of vetted local experts with the ease of online booking. What sets TravelLocal apart is its commitment to giving back; the company donates 1% of its net revenue to conservation and charitable projects in its destinations worldwide.
International Expansion and Growth
Despite the challenges posed by the pandemic, TravelLocal has demonstrated robust performance, as people worldwide embrace extensive travel with a newfound emphasis on sustainability and supporting local communities and economies. CEO Tom Stapleton notes, "Our unique business model enables everyone to do just that." This fresh funding round underscores the tremendous growth potential the company now possesses, thanks to the exceptional team it has assembled.
In 2021, TravelLocal merged with Germany-based Trip.me. This recent investment will accelerate the company's international expansion, focusing on enhancing its managed marketplace and brand marketing.
A Unique Approach to Travel Planning
What sets TravelLocal apart from traditional travel companies is its commitment to putting travelers directly in touch with local experts at their chosen destination. This way, from the moment they make an inquiry, travelers benefit from up-to-date destination expertise, exclusive local insights, truly authentic experiences, and better value for their money.
This streamlined approach benefits not only travelers but also the local economies of the destinations they visit. By connecting directly with experts from locally incorporated companies, more client spending remains within the local economy, thus making tourism a force for good.
An Impressive Growth Trajectory
Since its inception in 2016, TravelLocal has helped over 70,000 customers create their perfect trips. The platform empowers travelers to book with over 500 individual local travel experts worldwide, who craft personalized itineraries directly with and for the client. This approach combines the advantages of expert guidance, online booking convenience, and full consumer financial protection.
Investor Backing for a Bright Future
The Series B funding round follows TravelLocal's successful merger with Trip.me in 2021. This growth capital round welcomes Puma Private Equity as a new investor, while Active Partners and Gresham House Ventures continue their support from the Series A round and the merger. With this latest funding, TravelLocal is poised for substantial growth, with annual bookings already exceeding 50 million USD and an impressive year-on-year growth rate of over 100%.
A Vision for Sustainable and Responsible Travel
TravelLocal is at the forefront of disrupting the travel market by offering bespoke, authentic experiences that make travel a force for good in local regions. As travelers increasingly seek more sustainable and meaningful travel experiences, TravelLocal's approach aligns with these values.
The company's dedication to responsible travel is evident through its 1% donation of net revenue to conservation and charitable projects in its destinations. This approach resonates with travelers who care deeply about making their holidays more responsible and sustainable.
Investors Recognize the Potential
TravelLocal's growth potential has not gone unnoticed. Nick Evans, Managing Partner at Active Partners, acknowledges the company's remarkable growth as a testament to its unique offering and the resilience of its team. As travelers continue to demand exceptional experiences, TravelLocal is poised to scale its business into more markets worldwide.
Mark Makey, Investment Director at Gresham House Ventures, praises TravelLocal for its agile approach and success in meeting customer demands for more authentic and responsible travel experiences. The investment from Puma Private Equity reflects their belief in TravelLocal's capacity to transform the tailor-made holiday industry.
TravelLocal's Series B funding round represents a significant milestone for the company, signaling a bright future for this innovative, sustainable, and growth-focused travel agency. As the travel market continues to evolve, TravelLocal's commitment to responsible travel and its unique approach will likely continue to resonate with travelers worldwide.