Cardiff tech firm Lovetovisit.com, which is aiming to revolutionise how people book tickets for experiences and venues, has raised £2.1m to fund further expansion plans.
The firm, which also has an office in London, has raised £600,000 from its founders and £1.5m from angel and corporate investors including £250,000 from Welsh adrenaline attraction venture, Zip World.
Further fundraisers are also planned, with the company aiming to launch in the UAE and in the US this year. It is also looking to expand in the UK domestic travel market and grow its monthly users to 10 million.
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Launched at the start of last year, Lovetovisit is looking to become the Just Eat and Airbnb in the events and experiences market. It was co-founded by Fed Pereira and twins Georgia and Alice Aubrey.
The UK’s marketplace for events and experiences, from major attractions to smaller operators, is worth £24bn and growing at a rate of 15% per annum.
However, the sector suffers from a lack of digitisation with only 8% of attractions having mobile optimised websites. It is estimated that over half of attractions and experiences have no online booking capacity.
The startup offers a digital solution offering consumers the ability to browse and book attractions, experiences, activities, theatres and events without having to leave the platform or pay membership fees. Its revenue model will see it taking a fee from each ticket sold. The startup is aiming to reach £500,000 in monthly sales by the end of this year’s summer season.
It already has 1,600 tourism and culture venues signed up, as well as partnering with industry heavyweights such as London Theatre, Encore, and Tiqets. Projections for the platform estimate monthly users of between three and five million.
Chief executive Mr Pereira said: “We already have the largest bookable inventory of ‘things to do’ in the UK. Now with Zip World’s investment we can continue our growth and maximise opportunity in the £24bn UK consumer market. Ultimately it will lead to an increase of bookings across the industry, exposing audiences to more ‘things to do’ inspiration than ever before.
“It’s fantastic to have support from Zip World given their position and standing in tourism. Both our businesses are ambitious and forward thinking so it’s a great match. It also gives us an incredible wealth of experience and business acumen to tap into at Zip World.”
Zip World founder and president, Sean Taylor said: “The partnership is a clear statement from Zip World Group about how we see the future of domestic tourism and the importance of tech innovation and strong digital content. Consumers want choice, they want discovery and booking to be simple, and they want the online experience to be fun - that’s exactly what Lovetovisit.com offers.”
He added: “This a great example of two innovative Welsh companies working together and we’re really excited about its potential. We’ve been investing significantly in Zip World to cement our position as a world-class attraction group and now, through this partnership, we’re investing in the future of the domestic tourism industry.”
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