TravelLocal,
an online travel agency that offers custom itineraries in 93 countries, has
raised $10.3 million in Series B funding. The round is led by new investor Puma
Private Equity with participation from the company’s existing investors Active
Partners and Gresham House Ventures.
TravelLocal
is focused on offering authentic, sustainable tailor-made holidays by
connecting its clients with local experts in each destination, combining advice
from vetted experts with the convenience of online booking. The company also donates
1% of its net revenue to conservation and charitable projects in its destinations
around the world.
“TravelLocal
has performed very strongly again coming out of the pandemic as people travel
extensively - and increasingly with a strong desire to do so in a more
sustainable, meaningful way, that supports local people and economies,” said
CEO Tom Stapleton.
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“Our
unique business model enables everyone to do just that. This funding round
reflects the excellent growth opportunity we now have, and the first class team
we have built to tackle it.”
In
2021, TravelLocal
merged with Germany-based Trip.me. The company said this funding will help
it accelerate its international expansion through further development of its
managed marketplace and brand marketing.
“TravelLocal
is disrupting the travel market with its bespoke, authentic experiences, using
travel as a force for good in local regions,” said Nick Evans, managing partner
at Active Partners.
“After
weathering the storm of the pandemic and completing a successful merger, the
brand's remarkable growth is a testament to its unique offering and the
unwavering resilience of the fantastic team.”