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Snaptrip Raises $1m to Become the UK’s Dominant Last Minute Holiday Rental Brand

Snaptrip Raises $1m to Become the UK’s Dominant Last Minute Holiday Rental Brand
Yareah Magazine
A Suffolk cottage from Snaptrip

A Suffolk cottage from Snaptrip

Snaptrip to introduce late booking model to the self catering market
– Personal phone confirmations remove fraud and phishing risks
– All properties individually visited and verified
– Largest inventory of bookable UK holiday properties
– 85% of bookings come within 2 weeks of departure
– Average saving of nearly £100 on all last minute discounted bookings*

London (January 19th, 2015) Snaptrip, the UK’s biggest last-minute self catering provider, is delighted to announce the completion of a late seed round that takes total investment in the company beyond $1 million in less than 12 months.

Cottage in Roughton, Suffolk

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 7 months since it went live in April 2014, increasing inventory from 250 to 15,500 properties. The brand now has impressive plans to bring the late booking concept to the self catering market, with live and accurate inventory and pricing, something previously unseen in the UK.

Barn Conversion in Modbury, Devon with indoor pool.
“We have worked hard to bring together a group of investors that have proven credentials within the UK startup ecosystem,” said Snaptrip CEO, Matt Fox. “Their experience and connections will prove invaluable as the company continues to progress and expand.”

Snaptrip aims to completely dominate the UK market with the largest inventory of self catering holiday accommodation ranging from cottages and houses to apartments and more unusual properties. The average saving on booking last minute rather than 8-12 weeks ahead of travelling is almost £100. Snaptrip will cater for travellers looking to book based on late availability deals, rather than the destination.

London based Snaptrip also offers exclusive discounts to members who sign up, meaning the brand has unique discounted inventory, highly targeted based on the users search history and preferences and unavailable on any other self catering site. This model of flash sales has proven particularly successful for numerous brands in the hotel sector and Snaptrip aims to be the first to bring it to the self catered market. The team of 10 now aim to grow this membership model alongside the introduction of other unique search parameters.

Original investor, VC firm Forward Partners followed on in the latest round of funding, giving the company a longer 12-18 month runway to further secure its position as the best last minute self catering solution.

The investment will be used to finance the aggressive growth strategy that Snaptrip intends to pursue in 2015. With 15,500 properties on the site at present, Snaptrip will look to increase that number to 40,000 within the coming months through a series of strategic partnerships, giving them twice as many bookable UK properties as other self catering websites. By representing such a large percentage of the available UK holiday rental inventory on snaptrip.com, the company will be in a commanding position as it seeks to expand into Europe.

One aspect which they expect will encourage consumers to book with them over other holiday rental sites is the fact that all bookings are confirmed by phone immediately after the reservation enquiry is made, removing any risk of fraud or phishing on the site or with rental partners. This coupled with the fact that all properties are visited and approved prior to listing, gives the consumer total peace of mind.

With this line up of unique propositions designed to provide a simple, cut price, personal service, CEO Matt Fox expects 2015 to see Snaptrip become a household name.

“We’re doing a number of things very differently – we’re proving that it’s never too late to book and that if you wait, you can save up to 50% on a break – we want people to be spontaneous, enjoy more leisure time and think more about when to go and not where”.

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