SNAPTRIP AND ENVESTORS SNAP UP £1M IN FUNDING
ENVESTORS is delighted to announce that since first meeting with SNAPTRIP in June 2017, we have steadily assisted their funding round raising £1M. They have targeted an aim of profitability by Q3 2018 and this is now well within reach. These funds will be used:
- To expand their marketing reach for offline / branding opportunities
- To be in a position for international expansion
Robert Gordon, Investment Manager, ENVESTORS “SNAPTRIP continued hitting their targets throughout the summer, with many of their growth metrics improving faster than forecasted. ENVESTORS is pleased to be raising funds for SNAPTRIP as they cement themselves as the go to website for discount led UK holiday rentals”.
Matt Fox, CEO, SNAPTRIP “Raising the predominant amount of this round through existing investors shows the strength of the relationship we have with our backers (some doing their second or third investments) and their collective belief in the proposition. We have continued to show fantastic growth throughout the year, hitting 120% increase in revenues for the Year to Date (vs 2016 YTD) with a reduction in our customer acquisition costs of 20% and an increase of overheads of just 17%. The increase in the desirability in UK domestic breaks following the fall out of Brexit has certainly helped but mainly it’s the fantastic efforts of our small internal team and building customised algorithms of both every pound spent on marketing and the types of properties we offer in our search results that has contributed to our progress”.