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Porter

At Porter, we’re building a personalized travel companion with our users throughout their travel experience, not just at the point of booking.

 

This is in response to the traditional online travel agents, who have built a one-size-fits-all product that overwhelms users with information and thousands of options. Further, these incumbent players have built a model that rewards them, not the consumer, by prioritizing the highest paying commission results.

 

In contrast, Porter is focused on being there to help our members discover great matched hotels, experiences, flights etc. Helping them effortlessly book, and then helping them experience and enjoy their holiday.

That third part is where we stand out from the rest of the market, and for us, there are three key areas we’ll be focusing on.

 

  1. Advice/knowledge (this is essentially Waze for travel, where we’ll be crowdsourcing insights and data from our community, e.g. taxi prices, recommendations, travel adapter type etc.)
  2. Experience/booking (this is all about connecting you with great things to do while you’re away, e.g. booking a table for you at a great restaurant).
  3. Dynamic travel (so in the scenario where you book all of your holidays with Porter, we’ll know if your flight gets delayed, so we can automatically update the time of your transfer bus, so you don’t miss it when you land).
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61.6%

Target

£250,000

Raised

£145,000

Minimum

£20,000

  • £250k (with the option to overfund to £600k).
  • Pre-money valuation of £1.8m.
  • SEIS and EIS relief are available. (c£50k of SEIS remaining and being issued on a first-come, first-served basis).
  • Have received £145k through advanced subscriptions.
  • Targeting 20-40x ROI for investors in this round.
  • The focus of this round is to accelerate product development and growth, focusing on moving towards revenue generation. We’re targeting £10k monthly revenue by the middle of 2022 and c£25-35k monthly by the end of 2022.

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