Fundraising Success For Sharing Economy Platform Camptoo
Company exceeds fundraising target by 127% and is valued at €10.7 million Dutch owned peer-to-peer motorhome rental platform, Camptoo, has successfully raised €500,000 through Seedrs, an online crowdfunding website. The company surpassed its original target of €400,000 by 127% and is now valued at €10.7 million.
Funds raised will be used to further invest in UK operations; including investing further in customer services and expansion within sales and marketing. The recent appointment of UK Country Manager, Ed Bassett, will further strengthen Camptoo’s position across both the UK travel and sharing economy sectors.
Camptoo provides a platform for owners of campervans, caravans and motor homes to advertise their vehicle to renters for weekend breaks and holidays. Currently there are 5.2 million registered motorhomes, campervans and caravans across Europe, with approximately 20,000 registered on sharing websites.
Since beginning operations in 2014, Camptoo users have booked over 175,000 nights, generating over €10 million worth of revenue for owners, whose vans would otherwise be sat idle.
Camptoo’s UK Country Manager, Ed Bassett, said: “The ever-increasing numbers of vehicles and customers registering with Camptoo means revenue is growing 13% per month. We are seeing significant increases in demand during the summer months, as established rental hire companies struggle to meet demand for inexpensive short-term hires.”
Camptoo co-founder and MD, Martijn Peeters, added: “We are delighted with the success of the Seedrs campaign and have far exceeded our original target with the help of UK and global investors. We are investing heavily in our UK operations in order to provide more British travellers with short-term hire vehicle options.”
Camptoo currently operates in The Netherlands with over 50% market share, the UK with a 20% market share, as well as Australia and Belgium.
To find out more, visit www.camptoo.co.uk.