Travello, a Brisbane, Australia-based online travel agency, has raised $6.3 million ($10 million Australian) in a Series B round led by Queensland Investment Corp.
CEO and co-founder Ryan Hanly said Travello, which is largely focused on selling tours and activities to travelers between the ages of 18 and 36, will use the funding to expand further in Australia and New Zealand as well as make inroads in the United States and Asia.
“Our view is the youth market is hugely underserviced at present with brands like STA closing down during Covid,” Hanly said. “They also spend significantly more than most people think and typically they spend it on experiences.”
Co-founder and Chief Operating Officer Mark Cantoni said between only 5 and 10 percent of the company’s sales prior to the pandemic had come from Australian travelers. But he added Travello is seven times bigger than it was pre-Covid largely because of the growth it’s seen in its domestic market.
Travello, which was founded in 2016, has raised $13.9 million ($22 million Australian) to date.