Business
Braveheart announces Envestors funding for Loco2
Braveheart announces Envestors funding for Loco2.
About this update from Truetide Plc
[{"type":"text","content":"\n \nRNS Number : 7986D Braveheart Investment Group plc 02 May 2013 \n \n\n2 May 2013\n \nFull steam ahead for train travel site Loco2\nwith funding from Envestors\n \nEnvestors Limited, the award-winning private investor network dedicated to helping investors source dynamic companies in need of growth capital, has closed a funding round for Loco2, the online travel agent that makes booking European trains easy. Of the total £300,000 raised, £185,000 was sourced from the Envestors network. \n \nEnvestors is a wholly owned subsidiary of Braveheart Investment Group plc (BRH), the AIM-listed investment management group specialising in venture capital investments and investment services to business angels, high net worth individuals, family offices and public sector organisations.\nDue to the complexity of international rail booking and lack of innovation by established players, the European rail market has failed to keep up with the major market transfer from high-street travel agents to online bookers. Currently booking even a simple journey can involve visiting several websites, while prices for the same journey can vary by up to 400% depending on where a purchase is made.\n \nLoco2 (loco2.com) lets customers search and book trains across Europe as easily as flights, its proprietary software offering single and multi-leg journeys through one simple interface. The service especially appeals to those who prefer train travel to flying for relaxation, environmental or other reasons.\n \n\"Our turnover has been steadily increasing since launching in April 2012 and we have contracts with the two largest European operators - SNCF and Deutsche Bahn,\" said Jamie Andrews, Managing Director of Loco2. \"Uniquely among English-language websites, this enables price comparison across rail operators. With help from Envestors, we are at the start of a major growth story.\"\n \nLoco2 is targeting both international travellers and customers booking a domestic journey in a country where they are unfamiliar with the main operator's site. Its experienced team includes a co-founder of BA.com. The firm has partnerships with the Seat61.com travel website and has recently launched Guardian Trains in partnership with the newspaper, to provide access to millions more potential customers online.\n \nS...