Travello poised for further acquisitions following £5.7M investment

Travello, a specialist in youth travel experiences, has raised £5.7 million in Series B funding.

Queensland Investment Corporation is leading the investment with Paspalis Innovation Investment Fund also involved. 

Australia-based Travello will use the funds to strengthen its position in the destination as well as take advantage of the pent-up demand for travel experiences as the industry recovers.

In a statement, Travello says is has recorded sevenfold growth since travel started again, driven by domestic demand.

“The travel experiencers vertical is the biggest opportunity in travel and will see significant growth in both the near and long term. The sector is still very young, conservatively 10 to 15 years behind flights and accommodation in every aspect. It’s a really immature market and that’s what presents such a great opportunity,” says Ryan Hanly, co-founder and CEO of Travello.

“One of our biggest competitors is the pamphlet wall in the lobby or a hotel, so Travello’s digital-first play uniquely positions us to capture the growth potential this market offers. We are currently growing at 25% monthly and have recorded over 1000% growth in bookings. Many youth travel brands, including the iconic STA and Student Flights, did not survive COVID, so the lack of competitors presents a unique opportunity for Travello to capture market share.”

The company acquired Backpacker Deals in 2020 and Hanly adds that the funding will enable it to make similar acquisitions.

He says Travello also wants to expand into outbound multi-day tours.

The company landed $5 million in a Series A funding in May last year.