Braveheart announces Envestors funding for Loco2
2 May 2013
Full steam ahead for train travel site Loco2
with funding from Envestors
Envestors Limited, the award-winning private investor network dedicated to helping investors source dynamic companies in need of growth capital, has closed a funding round for Loco2, the online travel agent that makes booking European trains easy. Of the total £300,000 raised, £185,000 was sourced from the Envestors network.
Envestors is a wholly owned subsidiary of Braveheart Investment Group plc (BRH), the AIM-listed investment management group specialising in venture capital investments and investment services to business angels, high net worth individuals, family offices and public sector organisations.
Due to the complexity of international rail booking and lack of innovation by established players, the European rail market has failed to keep up with the major market transfer from high-street travel agents to online bookers. Currently booking even a simple journey can involve visiting several websites, while prices for the same journey can vary by up to 400% depending on where a purchase is made.
Loco2 (loco2.com) lets customers search and book trains across Europe as easily as flights, its proprietary software offering single and multi-leg journeys through one simple interface. The service especially appeals to those who prefer train travel to flying for relaxation, environmental or other reasons.
"Our turnover has been steadily increasing since launching in April 2012 and we have contracts with the two largest European operators - SNCF and Deutsche Bahn," said Jamie Andrews, Managing Director of Loco2. "Uniquely among English-language websites, this enables price comparison across rail operators. With help from Envestors, we are at the start of a major growth story."
Loco2 is targeting both international travellers and customers booking a domestic journey in a country where they are unfamiliar with the main operator's site. Its experienced team includes a co-founder of BA.com. The firm has partnerships with the Seat61.com travel website and has recently launched Guardian Trains in partnership with the newspaper, to provide access to millions more potential customers online.
Scott Haughton, Director of Envestors said "Booking flights is simple, with sites aggregating prices from airlines across countries. But there is no equivalent one-stop shop option for European rail travel. This is the gap that Loco2 is only now beginning to fill."
Further information:
Braveheart Investment Group plc
|
Geoffrey Thomson, Chief Executive |
Tel: 01738 587555 |
Sanlam Securities UK Limited (Nominated Adviser and Broker to Braveheart)
|
Lindsay Mair Catherine Miles |
Tel: 020 7628 2200
|
Envestors Limited
|
Scott Haughton, Founder Director |
Tel: 020 7240 0202 |
Loco2
|
James Andrews |
Tel: 020 7183 7652 |
Media enquiries:
Allerton Communications
|
Peter Curtain |
Tel: 020 3137 2500 |
Notes to Editors
Braveheart Investment Group plc
Braveheart provides financing and associated advisory services for small and medium sized enterprises (SMEs) as follows:
For the company looking to raise money, we provide:
· Equity capital. This form of financing is typically long term and is usually appropriate for fast growing businesses or early stage companies. We will consider equity financings where our individual investment, or the investment we arrange, would normally be a maximum of £2m although we are happy to participate in larger financings as part of a syndicate;
· Debt finance. Short to medium term and for companies with cash flow to service the loan. Our unit size for this type of finance is up £1m and we will usually provide junior debt which is unsecured but linked to an equity instrument;
· Corporate finance advice on all aspects of raising money, strategic development and corporate governance.
The money we invest comes from a variety of sources (see below) and is sometimes linked to particular geographical locations.
To the investor, we provide a one-stop shop service to those in one of the following groups who are looking for exposure to SME investments:
· High net worth (HNW) individuals looking to build tax efficient Enterprise Investment Scheme (EIS) and Seed EIS portfolios;
· Family offices and private sector institutions;
· The Public sector.
Investors can choose between investment types ranging from self-build portfolios, to a full fund management service.
www.braveheartinvestmentgroup.co.uk
Envestors Limited
Envestors enables investors to source dynamic unquoted companies in need of growth capital. Comprising high net worth private investors, family offices, funds and venture capital sources, its network has helped over 65 companies raise in excess of £25 million, the majority of opportunities attracting taxation benefits under the Enterprise Investment Scheme (EIS).
Services to companies include intensive preparation for fundraising, initial due diligence and screening, facilitating corporate fundraisings through in-demand investor presentation events and face-to-face meetings with potential investors, and placing of non-executive talent.
Envestors was awarded the "Private Investor Network of the Year" at Investor Allstars in 2009 and again in 2011 and is a wholly-owned subsidiary of Braveheart Investment Group plc.
This information is provided by RNS
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