Travelnest
£3 million investment in travel technology business Travelnest to support the creation of new jobs and allow the company to target new markets.
“The Bank is delighted to be providing growth capital to a technology business based in Edinburgh with global ambitions and scalability.”
Mark MunroExecutive Director - Sustainable Investment, Scottish National Investment Bank
Key Information
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Mission Focus
Innovation
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Amount Invested
£3m
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New Jobs
30 FTE initially, with workforce projected to grow to over 200 by 2025
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Location
Edinburgh
Key Quotes
Mark Munro, Executive Director, Sustainable Investment at Scottish National Investment Bank said:
“The investment substantiates Edinburgh and Scotland as one of the UK’s fastest growing tech hubs and an incubator for technology businesses, aligning with the Bank’s innovation mission and supports key elements of the Scottish Technology and Ecosystem Review as well as the National Strategy for Economic Transformation initiatives by supporting an entrepreneurial-oriented technology business and the creation of skilled roles.”
Doug Stephenson, Founder at CEO at Travelnest said:
''I am delighted that the Scottish National Investment Bank is supporting Travelnest as we further scale the business. Travelnest is uniquely placed to take advantage of macro changes in travel trends and accommodation preferences that we’re seeing post the pandemic. We have ambitious plans for market expansion, to consolidate and expand our presence internationally. Alongside this, we’ll be focusing on the development of our core product. I am excited to put these plans into action and for Travelnest to play a key role in the recovery and bounce-back of the travel and tourism industry.''
Alignment to the United Nation's Sustainable Development Goals
All of the investments the Bank makes support the UN's Sustainable Development Goals. This investment supports the goals below:
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Goal 8
Decent Work and Economic Growth
Creation of high quality technology jobs in Scotland
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Goal 13
Industry, Innovation & Infrastructure
Supports development of Scottish tech ecosystem
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Goal 11
Sustainable Cities and Communities
Engaging with local communities to support sustainable tourism