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Name: Snaptrip
Industry/sector: Travel
Date founded: 2013
Founders: Matt Fox, Dan Harrison
Location: London
Previously Fox had worked for a holiday rental business, where he’d seen how much accommodation went untaken. That gave him the idea of taking the discount route when it came to last-minute deals. Its concept was so unique that even when Snaptrip had no name, it was attractive enough to win its first backing from Forward Partners.
Indeed, the Snaptrip story is encouraging. While it may seem amazing that it is still possible to find new online travel niches, especially in Europe, Snaptrip seems to have done it. Its classic formula is to remove search time and hassle and deliver real-time, accurate information.
The online platform also gives signed-up users access to flash deals and offers travel inspiration though useful categories such as “pet friendly”, “beach” and “popular destinations” – all of which makes the process of booking a trip away more convenient.
Now over a year old, Snaptrip claimed to have booked 30,000 holidays in its UK cottages in 2015. And after linking up with partners such as Cottages4U, Marsdens, Blue Chip Holidays and a large number of management agencies, it was said to have the UK’s largest website of its kind. But it’s not stopping there – it has expanded fast and now has over 40,000 cottages.
Having launched in 2013 on the back of £35,000 from venture capital group Forward Partners, the business, which claims to be the only last minute holiday deal site of its kind, has used the finance to secure numerous property owner and agency partnerships – as well as created its own website.
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 first seven months since it went live in April 2014.
There still seems to be plenty of scope for further development of the business, however. It just secured another £1.5m investment in February, and this time the new money is go to marketing, product development and more people. In its sights is expansion into Europe and the US.
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