Published on Monday, September 11, 2017

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.

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