Mapo Tapo closes a €1.15 million seed round
Mapo Tapothe startup that connects outdoor sports enthusiasts by organizing sports trips around the world, has closed a seed round of 1.15 million euros. This operation that combines equity, grants and debt instruments sees the entry of important institutional investors into the company that had already raised a pre-seed round of 355 thousand euros (with the contribution of International Business Angels and B4i Bocconi for Innovation). With the new capital raised, Mapo Tapo wants to accelerate the growth of travelers registered on the platform and further develop the latter’s technology to support local sports guides.
Mapo Tapo is an innovative startup born at the end of 2020, co-founded and led by Daniele Bald Pollino (ex-Amazon). The founding team also includes Alessia Fontanari (ex-McKinsey, Doctolib), Anthony Cambyses (Chief Product Officer and Go-to-Market), e Alfredo Lanzetta (Chief Technology Officer). The mapotapo.com platform allows outdoor enthusiasts to book trips with certified guides and find adventure companions to share them with.
Mapo Tapo’s funding round
The funding round was made possible thanks to the support of the acceleration program Argo, the traveltech accelerator of the CDP Venture Capital Network promoted with the Ministry of Tourism and managed by Zest (co-investor) together with VeniSia and supported by corporate partners Intesa Sanpaolo and Intesa Sanpaolo Innovation Center, Human Company, and Scuola Italiana dell’Ospitalità.
After selecting Mapo Tapo in the 1st batch of the acceleration path, Argo continued to support the company’s growth with a follow-on of 200 thousand euros in a total round of 750 thousand euros, also subscribed by Banca Finint, with the advisory of the Doorway platform, Encelado Ventures and some Business Angels.
In addition to these 750 thousand euros raised in equity, there is the Smart and Start financing from Invitalia and further contributions from the Ministry of Tourism which supported Mapo Tapo both in the validation phase and in the start of development, with an overall contribution to the round for a value of 400 thousand euros.
Pollino (Mapo Tapo): “The Italian ecosystem, although complex, offers numerous financing opportunities”
“The Italian ecosystem, although sometimes complex, offers numerous opportunities for raising funding,” said Daniele Calvo Pollino, CEO of Mapo Tapo. “Combining different sources of financing can result in an ideal strategy, reducing dilution; an alternative to the classic American model, based on simpler instruments but higher valuations. CDP Venture Capital, Zest and MiTur have been fundamental partners, not only from a financial point of view, but also from a strategic and operational one. They have helped validate our business model and refine internal processes. Thanks to their support, we have placed the professionalism of certified local guides at the center of our value proposition, a distinctive element in the Italian and international travel tech landscape.”
The round was also an opportunity to expand the panel of stakeholders and advisors through the Enceladus vehicle. Other new advisors and investors include Martin Bagini (investor and ex-COO of Docebo), and the renewed trust of existing advisors such as Joseph Cavallaro (ex-McKinsey), Yves Warnant (serial entrepreneur), and William P. Keenan (Business Angel and former professional investor).
Mapo Tapo continues to pursue the goal of maximizing value for local sports guides and outdoor enthusiasts. Daniele Calvo Pollino added: “Even though the goal has remained unchanged, the last three years have been a real rollercoaster: we have tested different business models and we believe that the current one is a winner. The real challenge now is to climb it.”
Mapo Tapo, travel for thousands of people from 40 countries
To date, Mapo Tapor has organized trips for over 1,500 people from 40 countries, with a Trustpilot rating of 4.7 out of over 300 verified reviews. Internationality has always been part of the startup’s DNA: 60% of sales come from abroad, a percentage that is constantly growing.
Mapo Tapo’s goal is to accelerate growth, aiming for a 3x increase in travelers in the next 12 months. “Our strength is the community, which counts 100,000 outdoor enthusiasts from all over the world. It is exciting to bring athletes from the USA, UK, Northern Europe and even Kuwait and Costa Rica to places like the Sicilian hinterland or other hidden gems. The challenge is to develop a technological product that allows local guides to reach outdoor sports enthusiasts in a widespread and personalized way. We want to offer something scalable, tailored for sports guides and relevant for travelers, keeping the community at the center”, concluded Daniele Calvo Pollino.
The expansion of the offering continues with a wide range of experiences: from climbing trips in Europe, to over 100 hiking, ski mountaineering, high mountain, snowshoeing and freeride skiing experiences around the world.
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