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Coach travel service secures funding
A new on-demand intercity coach travel service, Sn-ap, has raised £2m in equity funding.
The investment, which is supported by a number of private investors from the travel and finance sectors, will be used to expand Sn-ap’s current service into new parts of the UK.
Sn-ap connects people making similar trips and matches them with local coach operators.
Trips go direct, point-to-point, without detours or drop-offs on the way and operate on an on-demand basis: trips only run when there is enough demand, keeping prices low.
Founded in April 2016 by former Chiltern Railways commercial director Thomas Ableman, Sn-ap has already raised an initial £1m in seed funding from angel investors.
The company is currently operating on routes between East Midlands and London, carrying 25,000 passengers to date.
Ableman said: "Our customers want to see this service linking more UK cities and fast. "We have attracted a much broader range of travellers than we were initially expecting – young families, post-family singles and couples all love the concept of high quality, low-cost travel on demand.
"Using our platform, they get greater convenience and real flexibility at a fraction of the cost of other travel options.
"At the same time, coach operators with spare capacity get access to popular intercity routes for the very first time."
He added: "This round of investment will help us expand to more cities and continue to make intercity travel as easy and affordable as possible for all."
The lead investor is UK-based Kindred Capital, an early stage VC fund that backs exceptional entrepreneurs at the beginning of their journey.
Lisa
Lisa joined Travel Weekly nearly 25 years ago as technology reporter and then sailed around the world for a couple of years as cruise correspondent, before becoming deputy editor. Now freelance, Lisa writes for various print and web publications, edits Corporate Traveller’s client magazine, Gateway, and works on the acclaimed Remembering Wildlife series of photography books, which raise awareness of nature’s most at-risk species and helps to fund their protection.
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