Nation.Cymru staff
A Welsh travel technology company has secured £3 million to expand its online booking platform and create jobs after sales grew by almost 40% last year.
Cardiff-based TourHub, which sells group tours and adventure holidays, will use the funding to improve its technology, increase international marketing and recruit more tour operators.
The funding combines equity from existing investors, including the Development Bank of Wales, Waterspring Ventures and business angels, with long-term debt from Finstock Capital.
Founded during the Covid-19 pandemic, TourHub began full trading in January 2023. It says sales reached £23 million last year, taking the total since launch to £45 million.
The platform lists more than 15,000 tours from 750 operators worldwide, selling to customers in the US, Canada, the UK and Australia. It aims to increase its operator network to 1,000 by 2027.
The company says its typical customer is in their 60s, most are women and half travel alone. The average trip costs £3,700.
Its range includes small-group adventures and guided cultural holidays. TourHub says much of the specialist tour market is still booked offline, and its platform gives operators access to overseas customers they might otherwise struggle to reach.
Investment in the platform will include improvements to search, booking and tools used by operators. New jobs are also planned at its Cardiff headquarters, although the company has not specified how many.
Founder and chief executive Seamus Conlon said: “Even through a turbulent time for travel, we grew almost 40% last year to £23 million in sales, because we sell to travelers across the US, Canada, UK and Australia rather than relying on any one market.
“This investment brings more of that demand to our operator partners, and builds a world-class travel business here in Wales.”
The Development Bank’s contribution comes from its Wales Flexible Investment Fund and marks its third round of funding for the business.
‘Strong progress’
Tom Linney, investment officer at the bank, said: “TourHub has made strong progress since our first investment, increasing its international reach and building a platform that connects travelers to a wide range of experiences.
“This third round of funding demonstrates our continued support for Seamus and the team as they build on that momentum and create more skilled jobs in Cardiff.”
TourHub’s chairman is Will Waggott, a former chief financial officer of TUI. Its board also includes Darren Evans, former owner of Leisure Pass Group, and Matt Brooks as non-executive directors.
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