Markus Frind, creator of the Plenty Of Fish dating app, is backing Canada-based recreation vehicle booking site RVezy with its first major funding round.
The new $20 million round follows $3 million worth of financial support from Frind in late 2019.
The latest backing from the entrepreneur is being used to continue RVezy's expansion into the U.S. from Canada.
To date, some 10,000 owners of RVs have joined the platform amid a surge in interest in road trip for leisure travelers since the onset of the COVID-19 pandemic.
RVezy co-founder Michael McNaught says: "When the pandemic hit in 2020, millions of people turned to local travel, camping, and RVing as an alternative to the traditional flights and hotels. When families discovered how safe, affordable, and convenient it was to explore the great outdoors in an RV, word got around."
Investors appear to be seizing on the trend, with Harvest Hosts raising $37 million in March this year and RVshare scoring a massive $100 million in late 2020.
Regarding his investment into RVezy, Frind says: "I looked at the website and said, ‘Ah, RVs, this is similar to dating.’ I understand marketplaces, how they work and their economics. I thought, this looks interesting but there are so many things I could do here."
RVezy is known for its appearance on Dragon’s Den, which secured a $150,000 investment from Michele Romanow.
The company took in over $3 million in gross sales in 2018 and by mid-2019 it had $12 million in annualized sales.