The Oxford alum Tripr founders Nicholas Green, Alexander Dru and Miraan Tabrez hope that readers and investors are going their way, as they launch their equity crowdfunding campaign on Crowdcube for their social travel app that connects people going to the same place. Seeking to raise £250,000 for 24.00% equity offered, the startup plans to use 61% of the funding on marketing, 32% on personnel and the remaining 7% on G&A.
Oh, the places you will go! Establishing a network in London, New York, Amsterdam, Dubai, Berlin, Tokyo and Bangkok, Tripr has been downloaded over 20,000 times in over 130 countries. Active users — including backpackers, university students, Erasmus sections, independent hostel owners and travel bloggers – are growing at a month on month rate of 16%.
The social discovery app targets people who travel; users can find and chat with other travellers who are going to the same place at the same time. Users can also connect with locals and ask for advice or suggestions for their trip. Tripr enables users to plan who they will cross paths with. Currently, 77% of Tripr users are Millennials, according to the campaign.
Seeing partnerships as vital to Tripr’s success, the platform noted in its the campaign its current discussions with online travel companies, airlines, consumer data agencies and accommodation providers:
- Partnership with large tour company, (18 cities, 250 tour guides, 80,000 tours per month) currently under trial Guides have been instructed to recommend Tripr at the beginning, middle and end of tours.
- Late stage discussion and current beta testing for an online travel company, whose parent company serve c. 2 million customers per year .
- Late stage discussions with a large online travel company (21 million bookings).
- Partnership with large student network in progress. On the back of successful trial there is further opportunity to partner with the remaining sections (268,000 students per year).
- Late stage discussion with international volunteer social enterprise, 150 projects ongoing across 6 continents Tripr will be promoted in pre-departure emails and social media
The platform sees its competitive advantage in the value proposition of social planning:
“Tripr users can connect before they travel. Our core functionality is different to the dominant social apps which are all geo-location based and can therefore only connect users who are currently within a geo-radius. In contrast Tripr connects users based on future plans,” the campaign clarified. “Tripr also offers its users the value proposition of more meaningful connections. Whereas most social discovery app connections are based on ‘hooking-up’, Tripr connections are based on shared interest in travel, adventure and socialising, and are ultimately more relevant and longer lasting.”
Ticket to ride? Click here for more detailed financial and rewards information about Tripr’s Crowdcube campaign which has raised over £26,850 with the confidence of 39+ investors; 28 days remain on the campaign.
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