Minube has closed 1 million euros in funding. The investors were Kibo Ventures, Bonsai Venture Capital and Sputnik Ventures. According to Minube, the capital infusion will be used for international expansion and new business strategy. Based in Madrid, Minube is a social travel startup.
December 2013 – Founded in 2007, minube is one of Europe’s most prominent travel startups and has recently raised 1 million euros from new investors Kibo Ventures and Bonsai Venture Capital, as well as additional funds from Sputnik Ventures, an existing investor since 2011. The new funds will be used to aid the company’s current international expansion and new business strategy.
Since its inception, minube’s vision has been to use social travel to revolutionize the online travel industry. The company intends to use the funds to support its four fundamental goals for 2014:
● Increase value throughout the travel cycle: minube aims to be a single resource for travelers throughout the entire travel process, and intends to improve existing products which help inspire travelers to discover new destinations, plan their trips, compare prices in real-time, and book flights, hotels, and activities. Minube also has mobile applications to help travelers on the move and serves as a platform for travelers to share their experiences with fellow travelers.
● International expansion: Minube is an international platform with sites in English, Spanish, French, Italian, Portuguese, and German. 2014 will see the company expanding throughout Latin America as well as to Scandinavia, and Eastern Europe. Currently, minube’s mobile applications have been downloaded in over 100 countries.
● Content and community growth: With one million registered users, minube has one of the largest amounts of high-quality user-generated content in the online travel market. Minube features real recommendations on what to see, where to eat, and where to stay, and has over 580,000 points of interest around the world backed up by 1.3 million photos. The funds will be used to bolster growth of minube’s community and content base.
● Mobile focus: Since the launch of its iOS app in June 2011 (awarded App of the Year by Apple Rewind Spain), minube has made excellence in mobile a core goal. This year, Minube’s Android app was selected as one of the Best Apps of 2013 by Google Play Spain. Currently, minube has versions available for iOS, Android, and Windows Phone and aims to use the new funds to develop its products for tablets and new platforms. Minube currently has 2 million app downloads and 40% of its total traffic arrives via mobile.
According to minube founder and CEO, Raúl Jiménez, “modern travelers have an enormous amount of online resources to choose from when planning their trips. Differentiation is the key, and we’ve creating something unique and different and are striving to become a point of reference among travelers. The entrance of our new investors has reaffirmed the fact that our goal of revolutionizing the travel industry via social travel is possible and viable. We’ve creating a phenomenal site where travelers’ recommendations have real credibility and value for other users, whether they’re still in the planning phase or even comparing prices and booking their trips.”
Referential investors in the online world
These three investors are not only providing 1 million euros in capital, but also extensive expertise in technology and online projects.
Kibo Ventures is one of Spain’s most active venture capital funds and has a portfolio of 17 international companies such as peerTransfer, JobandTalent, and Ludei, and has seen successful exits such as Blink Booking’s acquisition by Groupon. Aquilino Peña will be Kibo Venture’s representative on the minube board.
Bonsai Venture Capital, directed by Javier Cebrián Sagarriga, has invested in many well-known Spanish companies like TopRural, Infojobs, Niumba and Softonic.
Sputnik Ventures has been an investor in minube since 2011 and has amplified its investment in this latest round. Founded in 2010, Sputnik has invested over 2.5 million euros in 14 upcoming Spanish startups like Miscota, Bicosome, Wuaki Tv, and Dinube, all of which focus on international markets and disruptive ideas.