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WeRoad Raises €4 Million in an Equity Crowdfunding Campaign on BacktoWork

WeRoad has recently raised $15.6 million (€13.5 million) in a mix of equity, debt, and convertible. WeRoad is an innovative travel company that, with a strong community on social networks and the strength of 600 coordinators, has led over 30,000 travelers to discover the world and make new friends in more than 190 long- and short-haul destinations, operating in three markets: Italy, Spain, and the UK.

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WeRoad, an Italian scale-up specializing in long-haul adventure travel for the Millennial target, has raised $15.6 million (€13.5 million) in a mix of equity, debt, and convertible, of which $4.6 million (€4 million) through a club deal realized through the equity crowdfunding platform BacktoWork.

The campaign, launched by BacktoWork with the support of Intesa Sanpaolo Innovation Center (the Group’s company that explores and learns new business models and acts as an engine and stimulus for the new economy in Italy), was joined by over 100 Intesa Sanpaolo Private Banking customers. The operation was managed through the corporate vehicle Finroad srl whose promoter is Riccardo Schiavotto, founder of Lanieri.com (of which he made the exit in 2020) and multi-WeRoader.

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WeRoad offers on-the-road travel for small groups of people who don’t know each other

“WeRoad’s campaign is the second operation on our platform that successfully involves Intesa Sanpaolo Private Banking clients, demonstrating that crowdinvesting can become an efficient alternative investment tool for HNWIs – commented Alberto Bassi, CEO of BacktoWork. – In this way, moreover, private capital can exert a direct impact on the growth of the innovative entrepreneurial fabric, actually contributing to the relaunch of the Italian economy in a delicate moment of recovery such as the one we are experiencing.”

“In parallel with the management that has allowed us to emerge solid from the stormy sea of the pandemic, in the last year we have worked with our investors who have always renewed their trust and support. We also went to expand the cap table and extend it with a club deal managed by BacktoWork in partnership with Intesa Sanpaolo Private Banking” explained Alessandro Zanchetton, Managing Director of WeRoad.

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WeRoad is an innovative travel company that, with a strong community on social networks (over 1 million followers) and the strength of 600 coordinators, has led over 30,000 travelers to discover the world and make new friends in more than 190 long- and short-haul destinations, operating in three markets: Italy, Spain, and the United Kingdom.

WeRoad offers on-the-road travel for small groups of people who don’t know each other. The travel experience becomes not only an opportunity to explore a country by traveling in an itinerant way, but also to meet new people and make new friends. In fact, WeRoad travelers leave alone (80% are single) as strangers: the sharing of experiences expertly curated by our Travel Designers creates lasting bonds already at the end of the trip itself. WeRoad groups are designed for small groups of people (from 8 to 15) homogeneous in age group (25-35 years old and 35-35 years old) and with the same travel mood. Each WeRoad tour is in fact designed to offer the best experience according to the preferred travel mood (Nature & Adventure, Monuments & History, Relax & Beach Life, City & Culture, Party & Nightlife).

Reported by Sifted as one of the 28 Italian startups to invest in 2021 and by Tech5 of TheNextWeb among the 5 “hottest” Italian scaleups, WeRoad not only records a 2020 just below the previous year, but in 2021 is set to close the year with revenues higher than the pre-Covid era.

“It has been a difficult two years – echoes Paolo De Nadai, CEO and founder of WeRoad – restrictions have put a strain on the serenity of all of us, loneliness has exploded and with it the need to return to travel, share experiences, live a full and free life again. We are therefore very proud of the impact that WeRoad has in people’s lives and we feel a strong responsibility to be a leading player in a restart that puts human connections at the center.”

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(Featured image by Mufid Majnum via Unsplash)

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J. Frank Sigerson is a business and financial journalist primarily covering crypto, cannabis, crowdfunding, technology, and marketing. He also writes about the movers and shakers in the stock market, especially in biotech, healthcare, mining, and blockchain. In the past, he has shared his thoughts on IT and design, social media, pop culture, food and wine, TV, film, and music. His works have been published in Investing.com, Equities.com, Seeking Alpha, Mogul, Small Cap Network, CNN, Technology.org, among others.