Travelmenu secures $1.6M to push position in Russia and Ukraine
Until now the company [TLabs Showcase – Travelmenu] has been funded solely by its founders Nina Pogossova, Katrin Buckenmaier, Mikhail Pogossov and Oleg Kopachevts, but its progress has now attracted the attention of the two venture capital firms.
The company says the investment will be used to ramp up its consumer marketing efforts and expand its sales infrastructure.
Travelmenu is hoping its growth and model will challenge the traditional marketplace in Russia, dominated by tours operators and offline agencies.
It has secured deals from around 70 tour operators (including giants TezTour and Coraltour) and has direct booking to 277,000 hotels and 500 airlines.
“With their help we will now be able to accelerate Travelmenu’s growth and invest in the necessary infrastructure to provide the Russian and Ukrainian traveler with the best customer value proposition available in the online market today.”
Kevin May is a senior editor and one of the co-founders at Tnooz. He was previously editor of UK-based magazine Travolution and web editor of Media Week UK from 2003 to 2005.
He has worked in regional newspapers (Essex Enquirer) and started his career in journalism at the Police Gazette at New Scotland Yard in London. He has a degree in criminology, a postgraduate diploma in magazine journalism and will be publishing his first book - a biography about electronic band, Depeche Mode - soon.