Startup offers an international and digital “Rejsekort” for tourists and travelers allowing everyone to travel like a local. Serving a target group that isn’t covered by the local transport networks. The app meets tourism trends set out by UNWTO covering; travel sustainably, like a local and experience authenticity. Working with 18 target cities across Europe with a visitor count of 116 mio.
This SPRINGBOARD® will be held in English / Dette SPRINGBOARD® vil blive afholdt på engelsk
A fintech startup on a mission to help everyone travel like a local. The people behind the company breaths for sustainability and a greener world. They create tools and products that allow tourism to restart in a more sustainable way when returning in 2021.
Only 36 % of tourists and travelers find public transportation easy to use in Copenhagen. A recurring theme in Europe’s biggest cities. Nor does public transport networks have mandat and or the budget to support this target group, as they are there to serve the domestic population. According to UNWTO the newest tourism trends cover a wish to travel more sustainably, like a local and experience authenticity when visit-ing a new destination.
The company is an app-based int. ‘Rejsekort’ for tourists and travelers to provide easy access to and infor-mation on public transport in Europe’s biggest cities. It consists of an intuitive journey planner showing you how to go from A to B in a sustainable manner. Cross-border mobility e-wallets allowing the users to pay for public transport in local currency and move their balance between currencies without experiencing ex-change fees. And lastly an inspiration feed of places to see and experience in the local neighborhoods that through micro communities provide a personalized experience. This ensures a redistribution of the tourism spendage so it stays in the local economy instead of leaking out into the hands of multinationals.
The company is working with a 1 euro top up fee, when the users top up their balances on the travel card.
Tourists and travelers from 18-45 who travel with a smartphone. They are sustainably aware and are look-ing of things to experience outside the beaten track.
The company is focusing on 18 of the biggest cities in Europe with 116 mio international tourists arriving in 2019 spending 15,6 billion euros on local transport alone. Tourism is set to return from the middle of 2021 and grow over the next decade returning to become the world’s biggest growing market.
CityMapper, Whim, Google maps, Omio, and Trip Advisor can be seen as our main competitors.
The company has onboarded two cities and have the next 8 markets in line for the coming 2 years. They have been selected as only 1 in 5 companies to join the EIT Urban Mobility Accelerator, and 1 in 15 for par-ticipating in the Urbantech mentor programme.
The company consists of two co-founders working within sustainable innovation for the past 6 years. Fur-ther a team of 3 employees and a handful of international interns.
The co-founders have managed to self-finance the company the first year and received funds from Inno-boster and Acceleration money from the EIT. In the end of 2020 and start of 2021 enter into two converti-ble loans with two business angels.
The company is looking to open their Seed Round before summer 2021, and are already in good dialogue with interested BA’s and VC’s around Europe. All of which is looking for the launch and the first tracktion before investing. The co-founders own 100 % of the company.
Due to COVID-19 the company has postponed the initial launch of the app 3 times, since they are waiting for the borders to open providing them with their target group. The app is ready to be launched in Copen-hagen. And Helsinki is expected to be fully functional in the app within the coming months.
Questions for the panel
1. Onboarding customers
The company needs the strongest story and the most effective ways to target their customers. Preferably without spending too much money. They are looking for unconventional ways to get access to their cus-tomers. So far they have managed to tap into analysis conducted by transports networks stating that the most frequent place where tourists are asking for directions and recommendations for things to see and experience is in the Hotel/hostel receptions. Further by speaking to the hotels/hostels the company experi-ences a substantial need for a tool to ease tourists access to public transportation.
2. Business model ideation
The company is working with a 1 euro top up fee taken every time a user top up their balance with 10-50 euros. They would preferably not have to rely on the customers to pay for the service. The company also has access to (3-10 %) commission in some markets, but not all.
Further the company is looking into creating a marketing platform from the inspiration feed.
3. Funding related to scaling internationally
The company is looking for app. DKK 5 mio. to scale internationally.