Snaptrip closes seed funding from forward partners.
LONDON – Snaptrip has launched following a £250,000 seed funding round from Forward Partners. With over 9,000 properties currently listed on the site and a continuous stream of inventory partnerships set to continue, Snaptrip is poised to achieve supremacy in the UK late availability self-catered market, through compelling discounted offers.
With the average annual occupancy of UK holiday rental properties currently at 52%, there is significant unsold inventory each year. Snaptrip offers rental agencies and individual holiday rental owners the opportunity to increase their annual revenue by creating offers for unsold periods on a last minute basis. By matching this supply with the increasing demand for last minute holidays, Snaptrip is solving a big unmet need in the industry.
The London-based tech start-up is harnessing the technological advantage it has gained over other holiday rental sites through association with the in house start-up experts at Forward Partners. Through sophisticated data feeds, Snaptrip can display exact availability and pricing for specific periods from their partner agencies. This is a tactic not employed by other listings sites and greatly reduces time spent sourcing an applicable property.
“Rather than punishing individuals for not booking early, we reward them for their spontaneity and sense of adventure,” said Snaptrip Co-Founder and CEO Matt Fox. “There is already a large market for last minute bookings in our sector and it’s growing each year, with no dedicated platform for holidaymakers to go to. Our research has shown that on a last minute basis, users will look at more than 10 websites and spend over a day finding an appropriate getaway. Snaptrip aims to remove that hassle and not only make it easier for couples to experience a romantic break in the Lake District, or a family to enjoy the beautiful Cornish beaches but offer them compelling discounts for doing so.”
“Snaptrip is an extremely promising company with the potential to dominate in an untapped market,” said Nic Brisbourne, Managing Partner at Forward Partners. “Our excitement for this business stemmed from the wealth of unsold inventory and the huge gains ‘last minute’ brands have made in the hotel sector. All the foundations are in place for Snaptrip to be punching in the same class as these companies within the next 12 months.”
Fox, former Head of Marketing and Operations at pureholidayhomes.com prior to its sale to the @Leisure Group in 2011, was joined by Co-Founder and CTO Dan Harrison in April 2014. An 8-year veteran in the sector, Harrison managed the UK Software Engineering Team at HomeAway. The pair now plan to build on early successes with Snaptrip and continue on a path of aggressive growth throughout the UK, before embarking on an expansion plan through mainland Europe and the US.
Snaptrip unveiled its beta site in April 2014 before launching a newly branded, fully operational site at the end of July 2014. The company is achieving exciting levels of activity with many delighted Snaptrippers even managing to find properties at snaptrip.com and be in them later that very day, pushing the definition of last minute travel to its limit. With price reductions of up to 40% frequent on the site, this innovative company is shattering previous technical and marketing restraints to finally offer the last minute, deal-focused market a self catered brand to compete with those in the hotel and flight sectors.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
