On-demand coach travel startup Sn-ap has raised £2m in a round led by Kindred Capital.
A number of private investors from the travel and finance sectors also contributed to the round, which will be used by the company to expand its current service into further parts of the UK.
Sn-ap offers a crowdsourced online booking system, connecting people who are making similar trips and matching them with the highest quality local coach operators.
Founded in London in April 2016 by former Chiltern Railways commercial director Thomas Ableman, Sn-ap raised £1m in Seed funding from angel investors prior to this new financing round.
The company currently operates on routes between East Midlands and London, and claims to have carried 25,000 passengers to date.
“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,” Ableman said.
Challenger bank Revolut enters UK savings market
“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.”
Leila Zegna of Kindred Capital highlighted that intracity transport has been revolutionised by the likes of bike sharing, Zipcar, Uber and Gett Taxi, while intercity transport has remained “relatively untouched by digital disruption”.
“Therein lies Sn-ap’s opportunity to enable the millions of people making journeys between cities to access today’s underutilised private hire coaches,” she added.