Verticals:Enterprise, SaaS, Security, Networks, AI, VR/AR, Marketplace, Blockchain, Internet of Things, New materials, Electronics, Robotics, Cleantech, Agrotech, Seatech, Therapeutics, Digital Health, Diagnostics,  Innovative Accommodation, Tourist Entertainment Companies, Tour Operators, Wine, Nautical and Equestrian Tourism, Theme Parks Mobile, Robotics  Founded in 2012, Portugal Ventures is a venture capital firm based in Porto, Portugal. The firm is a part of the Banco Português de Fomento group. The firm seeks to invest in pre-seed, seed and series A stages

Portugal Ventures

Indie Campers

Indie Campers offers adventurers the opportunity to start their journey in one location and end it in any of our other depots, while delivering an outstanding customer service for a unique and unforgettable experience.

Indie Campers is a global RV rental platform offering flexible and customizable recreational vehicle (RV) travel options through its platform and network of 70+ locations across North America, Europe, and Oceania. Travelers can customize their trips by selecting pickup and drop-off locations, vehicle models, and rental durations. This includes the use of flexible one-way trips, enabling customers to pick up and drop off their campervans at different locations, using its extensive network.&nbsp;

Travel Tech

GED Ventures Portugal invests in Indie Campers to support the current growth trajectory

Indie Campers is a global RV rental platform offering flexible and customizable recreational vehicle (RV) travel options through its platform and network of 70+ locations across North America, Europe, and Oceania. Travelers can customize their trips by selecting pickup and drop-off locations, vehicle models, and rental durations. This includes the use of flexible one-way trips, enabling customers to pick up and drop off their campervans at different locations, using its extensive network.&nbsp;As of August 2024, the company operated a diverse fleet of over 7,000 RVs across three continents and more than 20 countries. Indie Campers provides a range of campervan models, including converted Volkswagen, Mercedes-Benz, and Winnebago vehicles, designed to cater to different group sizes and travel preferences. The campervans are equipped with essential amenities such as kitchens, beds, and storage spaces. Customers can also opt for additional extras like portable toilets, surfboards, and bicycles to enhance their road trips.Notably, Indie Campers revealed in July 2024 that it had been profitable since its inception.Competitors: None under coverage (Indie Campers specifically offers a platform for booking RVs).

Sonder is a short-term rental startup that acquires and refurbishes apartments in popular urban areas and offers them for rent through various channels, including Airbnb, Expedia, and its own website. The company typically enters into three- to five-year leases (including fixed leases and mixed leases) or revenue-sharing agreements with landlords to occupy entire floors of buildings. Sonder’s contracts include provisions that reduce rates during economic downturns, such as a clause that decreased rents by 8% during the pandemic. Unlike other home-sharing firms that have faced difficulties with local lodging regulations, Sonder either holds hotel licenses or operates in buildings that permit short-term rentals.&nbsp;Its apartments offer hotel amenities, such as professional cleaning services, fresh designs, and a concierge service accessible through an app. With the help of its app and digital door locks, guests can check-in to their rooms without any face-to-face interactions. As a result, Sonder's offering was well-suited for maintaining social distance during the pandemic. Sonder aims to extend its reach by expanding to other regions, including Asia. Sonder is also planning to broaden its offerings to include properties such as resorts, villas, and residences. Moreover,&nbsp; Sonder aims to establish a franchise model and sell its software solutions to outside operators. In <a href="https://sp-edge.com/updates/20463">July 2023</a>, Sonder launched its first hotel collection, ‘Powered by Sonder’, a collection of boutique hotels, each with its own distinctive design aesthetic, utilizing Sonder's technology and operated by the company.&nbsp;As of January 2023, Sonder served more than one million guests in more than 9,000 live units, across more than 40 cities and 10 countries. It expected to grow its portfolio to 56,000 units by 2024.&nbsp;In <a href="https://sp-edge.com/updates/27990">March 2024</a>, Sonder lost some properties to competing companies such as Kasa Living, Placemakr, AvantStay, and Blueground. The shift in property management occurred after Sonder attempted to renegotiate lease terms or exit from master leases.&nbsp; Key customers and partnerships<a href="https://sp-edge.com/updates/32761">In August 2024</a>, Sonder signed a licensing agreement to sell 9,000+ of its units to Marriott International with plans to integrate an additional 1,500 units into the Marriott system in the future. Previously,In September 2022, Sonder partnered with RateGain Travel technologies to strengthen its presence on the GDS by introducing its own dedicated chain code titled SS. The company also partnered with Hotel Engine, a lodging performance network, to offer its services to its network of over 550,000 business travelers (October 2021).

Sonder

Ukio is a Barcelona-based company that provides short-term rental apartments directed at remote workers and other professionals on the move. Ukio offers rental apartments for stays ranging 1–11 months, with an average stay of four to five months. Guests can book for a set period and have the option to extend their stay through the company's online platform. Ukio signs 7- to 10-year leases for its apartments with individual property owners, real estate developers, and family offices.Ukio’s rentals range from EUR 1,750–5,000 (~USD 1,900–5,400) per month. The monthly payment covers utilities, maintenance, taxes, and all the standard amenities included in a hotel stay. Each apartment includes a concierge and reception area, with some having additional services, such as weekly-cleaning facilities. As of August 2024, Ukio operated in Barcelona, Madrid, Lisbon, Berlin and Paris and planned to expand to other cities such as London, and Dublin.

Ukio

NUMA (formerly known as Cosi) is a German provider of alternative accommodation that offers short-term rental units in over 3,000 locations in cities like Berlin, Munich, Rome, and Vienna. The company signs long-term leases with property owners and remodels the apartments by furnishing and designing the interiors, before renting them out as a hotel alternative. NUMA uses automation and smart pricing to increase occupancy rates and provides a comprehensive digital service for the entire guest experience by reducing booking and check-in/checkout timing to less than 60 seconds. NUMA differentiates itself from similar companies like Sonder by targeting a broader demographic and offering a “tech franchise” solution called “NUMA Go,” where third-party hoteliers can use NUMA's technology for a share of their revenue. NUMA also offers B2B travel solutions through its dedicated corporate booking team and its offering of corporate travel rates.In June 2021, NUMA expanded its services to Spain, Italy, Austria, and the Czech Republic by acquiring local short-term rental provider, Friendly Rentals. NUMA planned to further expand its operations in existing and new markets, such as France, the UK, Ireland, and the Nordic region. Additionally, NUMA made plans to enter the Portuguese market with the opening of a 77-unit hotel in Lisbon in Q2 2024.

numa

TravelPerk offers business travel options for customers. TravelPerk is headquartered in Barcelona and has additional offices in London, Berlin, Chicago, and Miami. The platform uses proprietary technology to provide booking, management, and reporting for business trips. It allows travellers to compare and book various modes of transportation, such as trains, cars, flights, hotels and apartments from various providers including KAYAK, Skyscanner, Expedia, Booking.com, and Airbnb. The company aims to provide flexibility to travellers while giving companies control over travel expenses.In November 2021, TravelPerk launched “TravelPerk Events” to bring dispersed teams together for face-to-face meetings. To make in-person meetings more sustainable, TravelPerk also provides customers with the option to estimate their carbon footprint and neutralize their emissions, achieving this through the acquisition of Susterra (September 2021). This also includes GreenPerk, a sustainability tool that directly reduces carbon emissions through initiatives run by its partner, Atmosfair. Other notable acquisitions included that of AmTrav (<a href="https://sp-edge.com/updates?industryIds=101">June 2024</a>), UK-based rival, Click Travel (July 2021) and US-based rival, NexTravel (January 2021).TravelPerk uses a subscription- and commission-based business model that includes a freemium plan, with paid plans starting at USD 99 per month and commission fees starting at 3% per booking.Key customers and partnershipsTravelPerk struck a partnership with Southwest Airlines in January 2021 to broaden its US-based inventory, becoming one of the first non-US travel management companies to enter a partnership with the airline company. Other partners include Lufthansa Group Airlines, Midnight Trains, Divvy, and Skyscanner.TravelPerk doubled its customer acquisition rate in 2020 and catered to more than 6,000 businesses, including brands like Wise, Farfetch, GetYourGuide, and Monzo, as of September 2024

TravelPerk

Omio is a Berlin-based travel platform that allows users to search, compare and book transportation options across Europe, the US, and Canada. Founded in 2013 as GoEuro, the company rebranded to Omio in 2019 to reflect its expanded global presence. Omio's platform aggregates and displays train, bus, flight, ferry and car rental options from over 1,000 transportation providers across 37 countries. Users can compare routes, prices, and travel times across different modes of transport in a single search.The company's technology integrates directly with transportation providers to offer real-time pricing and availability. Omio generates revenue through commissions on bookings as well as service fees. As of 2022, Omio's platform facilitated enough ticket sales to fill 30 trains and 300 buses daily. The company has seen significant growth, with ticket bookings in 2022 reaching 140% above pre-pandemic levels. Omio has also observed a shift toward mobile bookings, with 80% of tickets now purchased via its mobile app.Key customers and partnershipsOmio has partnerships with hundreds of transportation companies across Europe and North America, including major providers like Renfe, Deutsche Bahn, SNCF, Flixbus, and Amtrak. In 2022, Omio partnered with Uber to integrate its inventory into the Uber app in the UK, allowing Uber users to book train and coach tickets. In 2023, Omio collaborated with Ecosia to launch a "tree-planting rail travel search tool" that promotes train travel as a more sustainable transport option. Omio has also integrated its booking capabilities into platforms like Kayak and Huawei devices.&nbsp;In August 2024, Omio announced a partnership with Ryanair to sell the airline's tickets as an approved online travel agent.

Omio

Platforms to search, compare, plan, and/or book flights, hotels, buses, trains and travel packages.

Platforms to search, compare, plan, and book alternative lodging in privately owned properties, including apartments and homes

Platforms to search, compare, plan, and book tours, events, and other travel-related recreational activities

Providers of corporate travel management solutions that help businesses with planning, controlling, tracking, and reporting on business travel activities, as well as distribution solutions and B2B booking engines

Car rental and ride-sharing solutions for long-distance travel

Providers of battery-powered luggage products equipped with technologies such as USB charging, built-in scales, TSA-approved locks, and real-time location tracking via GPS and cellular networks

Providers of technology-enabled solutions to enhance the guest experience, such as contactless and automated check-in services.

Providers of technology-based solutions for accommodation providers, tour/experience operators to optimize revenue and operations.

Some solutions under the B2B travel solutions segment operate under a B2B SaaS model

Some online search/booking and revenue management solutions use AI/ML for product development

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 Indie Campers, a Recreational Vehicle (RV) rental platform based in Lisbon, has secured EUR 35 million (~USD 38.1 million) in its Series B financing round. The funding round was led by Indico Capital Partners, with significant contributions from Cedrus and GED Ventures.
 With this funding, the company intends to expedite the hiring of high-profile professionals in departments like product, tech, data, and marketing.
 Indie Campers operates its RV rental platform in over 70 locations throughout North America, Europe, and Oceania. It offers travelers a range of options to choose from, including a fully-equipped Indie Campers van, a privately owned RV, or a van from a professional campervan renter.
 
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Indie Campers

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