Backers include Enterprise Ireland which says the firm has the potential to scale globally
Tours and activities start-up TripAdmit raises €500,000 in seed funding
B2B tours and activities provider start-up TripAdmit has raised €500,000 in seed funding.
The financing comes from both international and Irish investors, including the backing of Enterprise Ireland’s High Potential Start-Up unit (HPSU).
Founders John Maguire and Andrew Kelly said the funding recognises TripAdmit “as a business with global ambition, capable of successfully competing internationally”.
TripAdmit enables tour and activity providers to sell online via their own website and distribute their activities via local and international distribution partners such as airlines, online travel agents and hotels.
The firm says distribution partners can earn significant ancillary revenue from over 50,000 experiences in more than 100 countries globally.
Maguire said: “TripAdmit is the solution for tours and activity providers and distributors who want to sell online, in a market worth in excess of €150 billion.
“Our cutting- edge technology connects tour operators with tourists who have become accustomed to planning and securing their travel needs online.
“These are exciting times for TripAdmit, we are thrilled to receive the backing of Enterprise Ireland who recognise the high potential of our business.
“Securing such a significant amount of investment in the middle of a pandemic has been challenging, but the response from our investors has been amazing.
“This announcement is testament to the team here who have developed our powerful booking software and the potential of this business when tours and activities re-open around the world.”
The investment will be invested in product enhancement, marketing and helping tour and activity businesses appeal to local tourists while preparing for the return of international tourists.
Niall McEvoy, HPSU ICT department manager at Enterprise Ireland said: “Enterprise Ireland are delighted to support TripAdmit as the company commences its scaling journey in Ireland and internationally.
“Although Covid-19 has had a significant impact on the Travel Tech sector, TripAdmit have developed a strong solution that facilitates traditional tours and activity operators to transition their booking and reservations to a digital offering.
“During 2020, the company made excellent progress against key milestones, and having now successfully raised this seed round, it will facilitate accelerated technical and commercial roll out in 2021.”