Shortly after a £ 2.2 million financing round led by Coates Investment, in conjunction with Cedars, we talked to Irina Evita (executive director of Commuter Club) to see how funding will be used to support the growth future and why this passenger club Success in the UK.
Can you quickly explain how the Traveler Club works?
Commuter Club is a technology platform that combines data, online retail and smart credit to help passengers find the right card for their travels, purchase online and access the big savings for annual tickets through a low cost and convenient monthly payment plan – such as a subscription service.
Our most common offer is our monthly payment plan that helps travelers save more than £ 400 on average each year. Passengers register online through a simple process and get an annual ticket with unlimited travel on their way, paid in convenient monthly direct debit payments. Better yet, we welcome new customers with two weeks of free travel in their first month with Commuter Club.
Why are consumers looking for new ways to pay for their travel?
The UK is one of the most expensive countries to navigate. Travelers spend £ 6 billion a year just to get to and from work. On average, the UK spends more than £ 2,000 a year on travel, traveling two hours a day to find its trains are too late and face price increases each year.
We found that 85% of passengers pay too much because they buy the wrong ticket, losing their savings by more than £ 500m. Over the past five years, prices have risen by 13%, making mobility at the expense of the household. Travelers appreciate the opportunity to enjoy and enjoy a great experience as a member of the Traveler Club.
What will you use for this investment?
The funds will be used to develop the Commuter Club platform with key new products including the Commuter Club smart card, a ticket finder tool to help travelers find the right card to navigate (use £ 500m savings) and automatically claim refunds when delayed Trains.
We believe that every traveler in the UK has the right to enjoy a great experience when buying tickets, reaching fair and transparent prices and taking advantage of the best savings available on the market. This round of financing will help us make this a reality.
Lead your funding from Coutts Investment Club, in conjunction with Seedrs. Why did you feel that this dual approach is the best way to round your finances?
Coutts Investment Club was good for Commuter Club, and Coutts has done a great job of contacting us with a group of investors whose experience will be of great value for the next growth stage. We are proud to have been full of visitors on Seedrs, so we were thrilled to give existing Seedrs investors and potential new retail investors the opportunity to participate in this round alongside Coutts investors.
As Commuter Club continues to grow, what are our goals for the future?
We have issued more than £ 70 million in tickets so far and we are proud to have helped passengers save more than 10 million pounds.
Our goal is to become the hub of mobility for all travelers, offering innovative and diverse products to help passengers save time, money and hassle.
We have an exciting product roadmap that includes the launch of the Commuter Club smart card, a ticket finder to help passengers find the right ticket for them and a service to claim refunds when trains are delayed.