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This investment carries considerable risks and may lead to a loss of the entire assets invested. Projected returns cannot be guaranteed and may be lower than expected.

itravel | Overview

itravel enables travellers to combine and book the components of their trip conveniently through artificial intelligence and block chain technology.
Pitch Video


itravel is the first digital travel agency that uses data analysis, artificial intelligence, and block chain technology in order to provide customers with individually personalized trips. Several prominent investors, such as the former executive of Thomas Cook and the current director of Holidaycheck Dr. Thomas Döring, and Brent Hoberman, the founder of Lastminute.com, have both already invested in itravel. Revenue from bookings on itravel has multiplied eightfold since 2014 to €8 million.

Key Investment Facts

 

itravel is a startup in the travel industry that several prominent investors of the industry have already invested in.

Among these are travel experts like Dr. Thomas Döring, the former executive of Thomas Cook and current director of Holidaycheck, Brent Hoberman, the founder of Lastminute.com, private investors with international success such as Christophe Maire, Florian Heinemann, who contributed to the success of Zalando, and the MIT professor Kenneth Morse.

In addition, the VCDE, Expon Capital and Howzat Ventures funds, which are focused on growth companies, have also invested in itravel. These have made successful investments in the travel and technology sector with investments such as Trivago, Lastminute.com and Hotel.de (more details on the investors in the section "Investors and Business Angels").

itravel uses the latest technology such as block chain and artificial intelligence on its website.

83% of all customers say that experiences, such as helicopter round trips, kitesurfing, and safaris, are the most important part of traveling. However, the largest online trip providers primarily offer flights and hotels. They do not offer experiences, which the traveler has to book on-sight or through a travel agency.

 

Experiences make the difference

 

itravel is the first digital trip operator to offer its customers the opportunity to create their own trips by compiling and booking their desired experiences and activities online in advance.

Since experiences are the most important aspect of people’s vacations, itravel serves a very interesting market segment.

itravel applies the principle of machine learning, which stems from artificial intelligence, in order to predict matches between customers, seasons, and trip components. This way, itravel can appropriately pair its offers with the customer’s preferences.

By recording and evaluating click and search behavior, reservations, and customer information, we can statistically determine matching product characteristics and customer profiles.

Block chain technology allows itravel to directly book and pay providers in the country of destination for the desired travel packages. This eliminates the high costs of bank and credit card servicing fees.

Block chain plays the role of “electronic notary:” it confirms the reservation with the local provider directly and triggers the simplified payment process. After the booking is successfully completed, the digital currency is exchanged to the local provider’s currency at a favorable exchange rate.

 

Use of intelligent technology, in particular AI and block chain

 

itravel thereby removes the need for a middleman, providing a higher profit margin for both itravel and the provider in the country of destination.

The traveler also receives an improved and broader selection of options for experiences and adventures.

In the past fiscal year (April 2016-March 2017), itravel achieved a booking volume of €4.4 million. In the current financial year, itravel already reached this figure after eight months.

By March 2018, itravel plans to have a booking volume of at least €8 million, which corresponds to growth of 82%.

 

Co-Financing

As part of this co-financing round, the VCDE fund will invest in itravel anew with a sum of €200,000 along with four other investors with a total sum of up to €2 million.

In addition to VCDE, these include experts from the travel sector, such as the venture department of the travel group Emile Weber from Luxembourg.

In addition to the certified investment of VCDE of over €200,000, a total amount of €1.3 million was fixed within the framework of a term sheet. Conversations regarding the remaining €500,000 on the term sheet are currently running.

itravel’s goal is to become the international market leader for individualized trips within the next five years, and to achieve a high retention rate of satisfied customers through the usage of artificial intelligence and block chain technology.

Please note
The acquisition of this asset involves considerable risks and can lead to the complete loss of the assets used. The expected yield is not guaranteed and may turn out to be lower.
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