TLT secures further VC investment for TravelLocal
TLT has secured a significant additional investment for bespoke travel company, TravelLocal, to help support its international growth plans and cement its position as a market disruptor.
The investment came from Gresham House Ventures, and follows a significant investment from Active Private Equity in 2018.
The investment will be used to build the global brand; expanding the company’s client portfolio in almost 40 origin countries around the world and increasing the number of destinations offered.
The TLT team was led by corporate partner Jon Gill, national lead for TLT’s fast growth team which draws together specialists from across TLT’s UK offices to provide scale-up businesses with the support and advice they need to succeed. He was supported by corporate solicitor Matthew Howells and legal assistant Rachel Kelly, alongside Mark Braude, specialist tax legal director.
TravelLocal’s managing director and co-founder, Tom Stapleton, says: “We’re proud of the global marketplace and brand we have created out of Bristol and are excited about using this funding to further accelerate our growth.
“We’re now able to enter the next phase of our journey as we look to increase our market share and expand internationally.
“We are thrilled that TLT worked with us to secure this additional investment from Gresham House Ventures alongside our existing lead investor Active Private Equity. Jon and the team worked collaboratively and effectively with the existing and incoming investors to create a platform for a successful partnership.”
Jon Gill, partner at TLT, says: “The South West is a very active hub for fast-growth tech-based businesses, many of which are looking for funding to support their global expansion plans. This was an intricate deal that involved a careful balancing of interests. It demonstrates the continued appetite from investors to fund and collaborate with the UK’s most interesting high-growth companies, in particular from Venture Capital Trusts.
“The travel technology vertical is receiving significant amounts of investment at present, and TravelLocal is a great example of a South West founded business that is scaling up rapidly to disrupt an existing market segment. We’re excited about their ambitious growth plans and look forward to working with them on their continued journey.”