Online adventure travel specialist Much Better Adventures has gone public with a crowdfunding bid having already topped its £800,000 target from pre-registered investors.
To date a Seedrs campaign has notched up just over £1 million from 744 investors as the UK-based firm bids to become a leading brand globally in a sector worth $683 billion.
Founder and director Sam Bruce said on LinkedIn: “Today we’ve officially opened the digital doors to give anyone the chance to invest and buy shares in Much Better Adventures again.
“Last week, we opened privately for pre-registered investors, and they smashed our initial target in just 20 hours!
“We’ve raised 135% of our target amount before opening publicly, but we’re going to stay open a short while longer to allow more investors to join the adventure. We’re very proud to be part community-owned.”
Much Better Adventures claims to be achieving £6 return for every £1 spent with sales accelerating having hit £1.08 million in value in February and March.
The brand is aimed at ‘experience-hungry’ millennials and offers curated adventures in 46 countries operated by its community.
It claims its “proprietary in-house platform automates the entire booking flow”, and “we’ve replaced the traditional tour operator or agency with a more cost-efficient and scalable model”.
Much Better Adventures reported average revenues per booking (from commissions paid by operators) have grown from £99 in 2018 to £192 in Q1 2021.
And it added its spend to acquire a new booking has fallen from £96 in 2018 to just £32 in Q1 2021.
“This is due to effective social media advertising and growth in organic (free) traffic from search engines, repeat bookings, word of mouth, PR and partnerships,” the firm said.