Australian startup Travello closes $952k investment

Visual of Travello homepage. August 2016

Brisbane-based startup Travello, which previously operated under the trade name of Outbound, has secured A$1.26 million ($952,944) in funding. The venture provides a social network for travellers and is being currently used in more than 200 countries.

This investment follows a capital infusion from a group of Queensland angel investors and a small pre-seed investment from the muru-D programme, backed by Australian telecom firm Telstra. The latest investment brings the aggregate equity financing in the firm to A$1.35 million ($1.02 million).

In an interaction with StartupSmart,  co-founder and CEO Ryan Hanly said: “We’ve achieved validation and realised we have something that people want so now it’s time to scale up. That was the impetus for us raising money.”

According to Hanly, proceeds from this investment will fund expansion of the startup, which has recruited two new people for its technology team and added a new commercial director, as well as marketing to drive user acquisition and brand awareness.

Given the nature of the mobile app, it lends itself well to international expansion, riding on the strength of the Australian tourism market. A report by Tourism Australia reported 7.4 million short-term visitor arrivals to Australia in the 12 months ending December 2015, a rise of 8 per cent as compared to 2014.

Meanwhile, the latest International Visitor Survey (IVS) results for Australia reported that international expenditure for the 12 months ending December 2015 grew by 18 per cent, reaching a total value of A$36.6 billion.

What could drive Travel’s next phase of growth is strategic partnerships with various travel organisations and leverage on its international nature; integrating its app with Airbnb and leveraging on the Aussie Specialist programme, or entering into partnerships with regional budget airlines.

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Craig Dixon joins Telstra-backed Muru-D Singapore as EIR

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.