Travala, a service that lets users pay for hotel reservations with digital currencies, has returned to equity crowdfunding platform Crowdcube and has successfully raised more than £830,000 in funding from nearly 490 Crowdcube investors. This latest round comes less than a year after Travala raised £367,580 through its previous Crowdcube round.
As previously reported, Travala claims it has become the world’s leading blockchain-based traveling booking platform that is trusted by thousands of customers worldwide. The platform currently offers over 2,000,000 hotels and accommodation covering 90,124 destinations in 230 countries and territories.
“Travala.com’s vision is to align travel booking with the ethos of decentralised technology. That being, promote accessibility to anyone, anywhere, offer censorship resistant and peer-to-peer transactions, and build open-source technology controlled by software and governed by users. We aim to be 15% cheaper than the rest of the market, travellers can use 21 different cryptocurrencies in addition to credit/debit cards to pay for accommodation bookings on the website, whilst having the option of earning real-world valued rewards with every booking.”
Travala further revealed that since its launch it has established partnerships (Booking.com, Agoda, Expedia, etc.) and has built out the platform to offer what it claims to be a world-class booking experience by any standard.
“Our efforts are paying off. Despite the global downturn in travel bookings, Travala.com has seen quarter-over-quarter room night growth exceeding 200% (5,800 room nights were booked in Q3 as of Sep 15 compared to 1,900 in Q2).”
Funds from the latest Crowdcube round will be used to continue the growth and development of the Travala platform. Travala is now offering 4.54% in equity at a £17,500,000 pre-money valuation. The campaign is set to close at the end of November.
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