London luxury travel firm Plum Guide gets £23m injection to tap into ‘revenge travel’
London-based luxury holiday platform Plum Guide has bagged a £23m funding injection as it looks to tap into a surge of pent-up ‘revenge travel’ this summer.
The travel platform, which provides a curated list of luxury holiday homes, is now looking to accelerate its growth with the new capital and create what it calls “the definitive list of the world’s most extraordinary holiday homes”.
Plum Guide boss Doron Meyassed said the firm was looking to tap into a boom of so-called ‘revenge travel’ as travellers make up for lost time this summer.
“With British consumers spending more in 2022 than in previous years, there is no room for error and so we strive to set that global standard for quality in the travel sector that has previously been lacking,” he said.
“We are catering to discerning global travellers who simply expect the best; they want unique properties in exciting destinations for a homestay in comfort and style and this investment will allow us to scale up to meet that demand.”
Using data and expert “home critics”, the firms says it aims to provide an alternative to mass-market booking platforms and select only the top 3 per cent of any destination.
The funding round, led by London VC firm Beringea with participation from Talis capital, Hearst Ventures and Latitude, will now be pumped into a expanding the platform’s 500 destinations.
Beringea chief investment officer Karen McCormick said that there was a significant opportunity in the market as holidaymakers capitalise on eased restrictions this summer.
“As consumers start making up for lost time, there is going to be vast demand for exceptional, reliable travel experiences,” she said.
“Plum Guide is a business strongly positioned to harness the ‘revenge’ travel boom.”