Snap snaps back after three-month pause with funds secured

Digital coach booking platform Snap has resumed.

The trip aggregator paused its services in June to avoid risks while it closed its funding round, prompting rumours that it had folded.

The funding round has been successful, with its largest investor, Accelerated Digital Ventures (ADV), back on board, plus new and existing angel investors.

It will also open crowdfunding soon, as customers have expressed a wish to support the business.

It will resume trips later this month, as planned before the pause.

Snap works by allowing customers to build their own routes, which other customers join, and matching them to an operator. So far it has fulfilled 211,464 passenger trips.

Thomas Ableman, founder and CEO, says: “Some people undoubtedly thought, when Snap paused, that we had folded. However, as we said at the time, we took a responsible decision to protect the interests of our customers and operators.

“Many firms in the travel sector keep running trips even while the bank balance depletes, and then end up leaving customers stranded and operators out of pocket. That is not the Snap approach and never will be.”

Jonathan Hunt, Managing Director of partner operator Roberts Travel, says: “We’re very pleased to be working with Snap again. The way they managed the recent pause was exemplary and gives us real confidence in them as a partner on which we can build a new and exciting part of our business.”

Lee Strafford, CEO at ADV, says: “All disruptive start-ups go through periods of uncertainty because they’re doing something fundamentally new and attempting to change behaviours. This situation is no different. The team’s capacity to pause and re-focus priorities has been exemplary.”