More than 30 roles will be created after online holiday operator Travcorp, secured £3.7m in equity funding. The business trades as Destination2 and HolidayGems.
BGF led the funding which will see the business able to continue to invest in technology, marketing and new destinations as it prepares for a resurgence in foreign travel in the months ahead.
The investment will also support the expansion of Travcorp’s team with recruitment planned for 30 roles including those of a Chief Technology Officer and Head of Digital Marketing.
Andrew Shapin, founder of The Cotswold Company and former CEO of Long Tall Sally, has been appointed to the board as non-executive director.
Andrew’s appointment is the result of an introduction from BGF’s Talent Network, which is the UK’s largest pool of non-executive directors.
Andrew Botterill, Executive Chairman of Travcorp, said: “The travel industry has been severely impacted by the pandemic placing considerable pressure on businesses in the sector, but we have remained very resilient in what has obviously been extremely tough trading conditions.
“We have put the customer at the heart of our growth strategy, and we are now operating an escrow trust account, which will provide additional protection for consumers and confidence that their money is protected when they book a holiday with Destination2 and Holiday Gems.
“Recent trading has been strong against 2019 numbers, which was our record year, and we are seeing a significant rise in bookings as holiday-makers are able to enjoy and plan trips again with the new simplified travel system, particularly in key corridors such as Dubai, Maldives and the Caribbean.”
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