London, 25 August 2020: Culture Trip today announced that it has secured funding to drive the company’s further growth.
The funding will be used to continue Culture Trip’s development as a tech-driven online travel and experience company inspiring and enabling curious travellers to explore the world.
Culture Trip is uniquely positioned to help its global audience get inspired, plan and book – all in one place. Culture Trip has recently launched curated collections of places to stay as well as online and outdoor experiences that can be booked directly via the app and the site. This offering has been updated consistently over the last months in response to consumers’ quickly changing travel needs.
The funding – raised from the current main shareholders – demonstrates their confidence in Culture Trip’s team, the growth opportunity and the potential to successfully leverage the ongoing changes the travel and tech sectors have seen in the last few years. To capitalise on the opportunities ahead, the company is strengthening its leadership team at an operational level.
After having secured this latest funding, Culture Trip Founder Dr Kris Naudts, currently Chairman and CEO, will now focus on his role as Chairman and on the company’s wider strategy, external relations, and corporate governance while the day-to-day management of the business will be taken over by Didier Stoessel who will join as CEO.
Didier Stoessel brings with him extensive experience in global leadership roles. He previously worked for leading international companies Modern Times Group (MTG A.B), HSBC Investment Bank, Merrill Lynch International in London and abroad. He also has an entrepreneurial background with Apace Media.
Dr Kris Naudts, Founder and Chairman of Culture Trip said: “We are excited about Culture Trip’s future and our shareholders’ continued support. It is thanks to our consistent progress and especially our employees’ dedication and hard work that we have been able to raise funding during these unprecedented times.
“I am looking forward to focusing on my role as Chairman after having led Culture Trip for nine years in which we have seen significant growth. With Didier as our new CEO, we are very well positioned to be at the forefront of the transformation our industry is experiencing.”
Didier Stoessel, CEO of Culture Trip commented: “I am very happy to be joining Culture Trip in London and work with this talented team, half of which are engineers and scientists. This shows how much tech is at the core of the company and together with a unique curated offering of travel experiences, we can stand out in the online travel market. With our offices in London, Tel Aviv, New York and Shanghai, we are a company with international ambition and vision.”
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