French travel startup Evaneos bags $6M for European growth

By VCPOST Staff Reporter

Jan 12, 2014 08:34 PM EST

French travel startup Evaneos has secured in $6 million in a Series B financing. The round was led by XAnge Private Equity. Existing investor ISAI also participated in the funding, according to TechCrunch.

The Paris-based firm says the fresh capital will be used for its European growth. The company is planning to launch in new countries outside of France, Germany, Spain, and Italy, where it presently operates. Evaneos says the capital will also allow it to beef up its workforce in the next few years, the report detailed.

In addition, Evaneos is planning to add new features to allow its community members to exchange information online, such as photos and opinions, the report said.

Chief Executive Officer Eric La Bonnardiere said: "Our competitors are the tour-operators that offer discovery and adventure tours. We revolutionize their business model by cutting out the middle-men. We are a marketplace that connects travelers with selected local agencies all around the world. Travelers customize trips directly with local experts who give the best of their countries and save money."

The sales of the travel firm have been doubling year-on-year. In 2010, its sales reached €2 million before reaching €7 million in 2011. In 2012, Evaneos achieved sales of around €14 million, TechCrunch reported.

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