Home > > ToursByLocals snaps up its first funding of $25 million

ToursByLocals snaps up its first funding of $25 million

01/14/2020| 11:56:16 AM| 中文

Peer-to-peer travel platforms are a tough business to make work - last year Vayable shuttered its doors.

ToursByLocals — which sources local guides in some 162 countries, then helps tourists search and book them for either individual or small group tours and experiences in the place they are visiting — is today announcing 33 million Canadian dollars (US$25 million) in funding, from a single investor, Tritium Partners.

The Vancouver, Canada-based startup, which for the past 10 years has bootstrapped its business, building it up to 1.45 million customers and some US$45 million in revenues. It has around 100 employees today.

The company today says it has some 4,130 professional guides and 30,000 different tours discoverable on its platform, ranging from small group tours to private excursions.

Peer-to-peer travel platforms are a tough business to make work. From maintaining an optimal ratio of travelers to high-quality guides to having a team of customer service experts at the ready when things go wrong, many platforms connecting individuals to other individuals have failed. Last year Vayable shuttered its doors; GetYourGuide actually started as a P2P platform before transitioning to a more traditional distributor.

TAGS: ToursByLocals | tours and activities | funding
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