Porter

Porter logo

Summary

• Launched v1 of Porter with a global supply of 300k hotels
• Strong initial traction with over 4,000 early-stage users
• Talented leadership and advisors (IHG, Admiral, GoCompare)
• Being supported by Transport for Wales and Google for Startups

Operations

Porter is a company that wants to make travel booking better. It's building a travel site, designed to make the whole process of travel as simple and enjoyable as possible, from discovery and booking, through to experiencing and enjoying.

In the UK, 43% of holidaymakers spend more time planning their holiday, than time away.

You start your search with a rough idea of what you're looking for, and then you're overwhelmed with thousands of results and irrelevant information. It's no wonder that 1 in 3 UK travellers suffer from shoppers anxiety.

That's where we come in.

We're building a digital travel companion, that's with you throughout your travel experience.

So what does that mean?

Based on your personal preferences, we provide smart recommendations, perfectly matched to you.

Our smart recommender system allows us to plug in thousands of data points and options, and turn that into a shortlist of the results we think are right for you.

Key accomplishments to date

• Version 1 of Porter launched, focusing on hotel recommendation and booking.
• Grown to a global supply of 300k hotels, thanks to our accounts with Impala and Hotelbeds.
• Over 3,000 early-stage users, and growing.
• Talented team assembled with experience spanning tech, UX, product and marketing.
• Advisory team with travel expertise and travel exits.
• Accepted onto the Welsh Government's Accelerated Growth Programme for high growth potential businesses, the Natwest Accelerator, the Tramshed Tech Startup Academy, and just awarded a place on the Transport for Wales Accelerator programme. We're also participating in the Tech Export Cluster being run by Tramshed, Welsh Government and Impact Innovation.
• Recently won a demo day pitching competition which resulted in us winning a package of support from Google for Startups.
• Shortlisted for multiple awards including the Wales Startup Awards and Great British Entrepreneur of the Year.

Monetisation strategy

The global online travel agent market is significant (and growing), estimated to be worth in excess of £430bn.

Porter earns on a commission basis. This means, every time a member books a hotel, Porter receives a percentage of the total price paid.

• Currently Porter earns up to 15% of the total price paid for a hotel stay.
• Porter receives the full booking amount up-front and then pays the net rate at a later date making Porter's cash model very efficient.
• As we grow there's an opportunity for us to earn commission for additional travel products e.g. flights, trains, experiences and car hire.
• We're also keen to test a tiered subscription model (think Amazon Prime for travel).
• Finally, there are potential B2B revenue streams to be explored. This could include us offering aspects of Porter as-a-service, or by providing insight packages into travel trends.

Use of proceeds

Recruitment to enhance our in-house capabilities, focusing on product, engineering, data and marketing.

Accelerate growth by scaling our core marketing channels, whilst also testing referrals, loyalty and influencer marketing.

Further, continue investing in our proprietary technology and digital products to enhance our recommendations, and scale to new verticals.

Team

CEO

Gary Piazzon

CTO

Miles Cook

Frontend Developer

Pooja Sidapara

Fullstack Developer

Alex Jeffers

Risks

As with any investment, investing in Porter carries a level of risk. Overall, based on the key risks highlighted below, the degree of risk associated with an investment in Stockhub is higher than in a company that's trading on a public market (such as Beyond Meat).

Early-stage investment

Porter is at one of the earliest stages of the business lifecycle, and the failure rate of companies at that stage is usually much higher than those at a later stage.

Illiquid investment

The number of transactions in shares of private companies is usually significantly lower than in public companies, typically resulting in it taking longer to sell shares in private companies at a price that is at least equal to the price that the shares were bought at. Accordingly, the Porter investment opportunity is considered to be higher risk than more liquid companies.

Actions

To invest in Porter, click here.

To contact Porter, click here.