Solo travel specialist Flash Pack has raised a further £5 million to fuel its expansion plans almost exactly three years after it filed for bankruptcy.
The new funding round was led by JamJar Investments, a consumer venture capital fund founded by the creators of Innocent drinks, with additional money pumped in by existing investors.
With the new investment, a total of £7.8m has been raised by the company that specialises in adventure trips for single travellers in their 30s and 40s.
The company, co-founded by CEO Radha Vyas, was relaunched in 2021 after it floundered during the pandemic.
In August, it announced it was planning to sell through travel agents for the first time.
Flash Pack said the new investment will ‘support continued technology development and growth in the US’, where it is planning to set up the business at the start of next year.
Radha said: “Solo travel has continued to grow in popularity as people look to expand their horizons and make up for lost time, but in the last two years, we have also seen an increased appetite for building meaningful connections through travel.
“We’re proud to be doing our part in helping to make cities like London less isolated, with 80% Flashpackers staying in touch after their trip. The recent investment indicates the value in this growing trend and we’re incredibly excited to continue this success worldwide.”
JamJar Investments co-founder Richard Reed added:“‘At JamJar we’re on a mission to invest in and help grow early-stage consumer businesses who are using tech to disrupt their categories, as well as having a positive impact on the world.
“Flash Pack is not just revolutionising the way people travel, but how we interact with one another.
“More needs to be done by investors to fund female-founded ventures, particularly from women of colour. Under Radha’s leadership Flash Pack has escaped the fate of the pandemic and come out better than ever, and so we have high hopes for what they will achieve over the next three years.”
The post Flash Pack raises £5m as it seeks travel agent partners appeared first on Travel Gossip.
Continue reading...
The new funding round was led by JamJar Investments, a consumer venture capital fund founded by the creators of Innocent drinks, with additional money pumped in by existing investors.
With the new investment, a total of £7.8m has been raised by the company that specialises in adventure trips for single travellers in their 30s and 40s.
The company, co-founded by CEO Radha Vyas, was relaunched in 2021 after it floundered during the pandemic.
In August, it announced it was planning to sell through travel agents for the first time.
Flash Pack said the new investment will ‘support continued technology development and growth in the US’, where it is planning to set up the business at the start of next year.
Radha said: “Solo travel has continued to grow in popularity as people look to expand their horizons and make up for lost time, but in the last two years, we have also seen an increased appetite for building meaningful connections through travel.
“We’re proud to be doing our part in helping to make cities like London less isolated, with 80% Flashpackers staying in touch after their trip. The recent investment indicates the value in this growing trend and we’re incredibly excited to continue this success worldwide.”
JamJar Investments co-founder Richard Reed added:“‘At JamJar we’re on a mission to invest in and help grow early-stage consumer businesses who are using tech to disrupt their categories, as well as having a positive impact on the world.
“Flash Pack is not just revolutionising the way people travel, but how we interact with one another.
“More needs to be done by investors to fund female-founded ventures, particularly from women of colour. Under Radha’s leadership Flash Pack has escaped the fate of the pandemic and come out better than ever, and so we have high hopes for what they will achieve over the next three years.”
The post Flash Pack raises £5m as it seeks travel agent partners appeared first on Travel Gossip.
Continue reading...
