European venture firm Balderton Capital has completed its latest deal since spinning out from its US parent, after investing alongside US VC group Partech International in a €3.5 million funding round for online tourism business TVtrip.
The site’s technology allows users to conduct virtual tours of hotels prior to booking, allowing guests to see the actual room in which they will be staying. The site, which is available in five languages, only launched a month ago but already covers 10 major European cities including London, Paris, and Rome. It plans to use the additional funding to expand its portfolio, and expects to be showcasing over 1500 hotels across the continent by the end of the year.
The firm has also recruited two senior advisors – Erik Blachford, the former chief executive of travel site Expedia, and Thierry Antinori, a director and senior executive vice-president of sales and marketing at German airline Lufthansa.
Blachford’s presence on the advisory board is not surprising, since TVtrip was founded by four of his senior European team: Marc Ruff, Fabien Bourdier, Marc Pfohl and Anja Keckeisen.
Last month Balderton spun out of its US parent Benchmark Capital. The firm manages about $1.5 billion across three funds, making it one of the biggest venture groups in Europe.