European startup Minube raises $1.6 million for Latin America push
European startup Minube has captured Euro 1.5 million ($1.6 million) in funding to spearhead its expansion across the Atlantic Ocean.
Fundación José Manuel Entrecanales (FJME) led the round through its FIDES investment division.
It also included participation from previous investors, Kibo Ventures and Bonsai Venture Capital.
The latest round comes 18 months after the company secured a $1.4 million investment round, backed also by Sputnik Ventures.
Minube says the new round will help it target new markets in Latin America.
A core part of Minube’s offering is its mobile app, with the company’s version for Android named by Google Play as one of the best apps of 2014.
The apps and desktop service is built around allowing travelers to find inspiration for trips, plan them using reviews from real travlers, and book flights, hotels and activities.
Since the company launched in 2007, around has grown to include 1.3 million registered users who have shared over 700,000 reviews of products around the world.
Around 100,000 photos are being uploaded each month, Minube claims, with some 60 million visits to the site during 2014.
Founder and CEO Raúl Jiménez says:
“We’ve shown ourselves to be a company with strong organic growth and a clear differentiating factor within the industry. We’ve accomplished this with very few resources but loads of passion and perseverance.
“FJME’s support shows confidence in our business model and our evolution as a company and, above all, proves that the path we’ve chosen is the right one.”
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