WeRoad closes a 13.5 million euro round to finance growth and international expansion. In spite of the two most difficult years ever for the travel industry, WeRoad, an Italian scaleup specialized in long-range adventure travel for the millennial target not only resists, but grows. After two seasons spent struggling with the limitations due to the pandemic, it is approaching the close of a 2021 higher than 2019 and resuming the momentum of growth with new capital.
“In parallel with the management that allowed us to emerge solidly from the stormy sea of the pandemic, in the last year we have worked with our investors who have always renewed their trust and support in us. We also expanded the cap table and also extended it with a club deal operation managed by BacktoWork in partnership con Intesa Sanpaolo Private Banking explains in a note Alessandro Zanchetton, managing director of WeRoad A twofold result: overcoming the crisis and having confirmed investor confidence, in two years that are anything but normal, especially for those involved in tourism ”.
A result achieved thanks to a very careful management of the pandemic period that allows WeRoad to now benefit from the positive rebound effect of travel. According to European Travel Commission in fact, not only the demand for travel has soared in the summer, but 54% of Europeans intend to book a trip after being vaccinated against covid-19, and as a result demand will continue to grow in the last quarter of 2021 into 2022.
“It has been a difficult two years, adds Paolo De Nadai, CEO and founder of WeRoad the restrictions put a strain on the serenity of all of us, loneliness exploded and with it the need to return to travel, share experiences, live a full and free life again. We are therefore very proud of the impact that WeRoad has on people’s lives and we feel a strong responsibility to be a protagonist of a restart that puts human connections at the center. Traveling is a very powerful tool for discovering ourselves, new friends and distant peoples and cultures. The more we travel, the more we contribute to building a more open, inclusive and equitable world. A need nowadays even more necessary, which even investors have understood ”.
€ 13.5 million in funding in a mix between equity, debt and convertible that not only sees the strengthening of several historical investors who have believed in the company since the beginning, but that has also opened up to private capital of the many supporters of the company through a club deal made through BacktoWork. A collection that, in particular, has surpassed i 4 million euros.
To the campaign, launched by BacktoWork with the support of Intesa Sanpaolo Innovation Center (the Group company that deals with exploring and learning new business models and acting as an engine and stimulus for the new economy in Italy), have joined over 100 customers of Intesa Sanpaolo Private Banking while the operation was managed through the corporate vehicle Finroad srl whose promoter is Riccardo Schiavotto, founder of Lanieri (of which it exited in 2020) and pluri-WeRoader.
“The WeRoad campaign is the second operation on our platform that successfully involves Intesa Sanpaolo Private Banking clients, demonstrating that crowdinvesting can become an efficient alternative investment tool for high-net-worth locates, in short Hnwi – comments Alberto Bassi, CEO of BacktoWork. -. In this way, moreover, private capital can exert a direct impact on the growth of the innovative entrepreneurial fabric, effectively contributing to the relaunch of the Italian economy in a delicate moment of recovery like the one we are experiencing “.
This collection is new blood for WeRoad to support scale up in Italy and abroad: “We want to achieve leadership in the Italian market, accelerate growth in the Spanish one and conquer the English one. We are firmly convinced that our model is unique in the travel sector: unlike the main players in the market WeRoad is in fact a tour operator, a community business and a travel tech company at the same time. Thanks to all these traits, which constitute the uniqueness of WeRoad in the travel landscape, we are convinced that we have all the cards to become the pan-European leader by 2025 ”, concludes Zanchetton.
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