Sn-ap founder Thomas Ableman
London-based Sn-ap Travel Technology will use the funding to roll out its service across the UK.
Sn-ap, which has developed a platform that helps independent bus companies break into the intercity coach travel market, has closed a £3.4m funding round.
The platform uses machine learning to predict the dates, times and routes that people wish to travel, and to set an optimal price. As a result, Sn-ap only operates at times of highest demand.
It uses customer star ratings to select the very best coaches and drivers from top-quality independent coach operators, helping to maintain a high quality of service.
This means it creates a win/win situation for both travellers and coach operators, as travellers are able to make a convenient journey at a fair price; and coach operators are more likely to fill their vehicles.
In this latest investment round of £3.4m, lead investors ADV and Oxford Capital join existing investors Kindred Capital as well as industry angels who cumulatively have funded Sn-ap’s expansion with £6m in just 20 months; almost the same trajectory as Uber (which raised £7.5m over the same period).
Sn-ap will use the new funds to roll out its service, already live in Bristol, Cardiff and Nottingham, to a further four UK cities in the next five months. By the summer, Sn-ap predicts over 100,000 people will be on-demand intercity coach travellers.
Founder Thomas Ableman said: “Intercity travellers have had to put up with poor service, high fares and the constraints of fixed routes and timetables for too long. We are bringing the power of technology to give them the quality and service they deserve.”
Tom Bradley of Oxford Capital added: “For years, Governments have talked about Integrated Transport as the future of mobility. And through it all, failed to give customers a truly great travel experience.
“By working with small, independent operators but with a high quality tech overlay, Sn-ap can give people the very best.
“You might call it ‘disintegrated transport’ – as it uses lots of small firms but in a consistent and integrated way that is better for customers and for our transport network as a whole.”
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