Loco2, the London-based start-up that operates a website to book European train journeys, has attracted £300k of funding led by 'angel' network Envestors, part of the Perth-based, AIM-listed corporate finance advisory, Braveheart.
The website seems to be a pan-European version of independent 'aggregator' booking sites like thetrainline.com and redspottedhanky.com (Ed: prize for daftest business website name?), and claims that its proprietary software "allows customers to painlessly book single and multi-leg journeys through one simple interface."
Loco2 is still very early stage – revenues 9 months after its April 2012 launch were around £70k. Management was seeking £1.5m in two tranches and were hoping to raise £500k in this round.
Loco2 has contracts with SNCF and Deutsche Bahn. Management claims it is the first of its kind for European train travel and, if so, good on them! But I wonder how long it might take for others to copy – or of course take them out?