Peer-to-peer travel forum secures $2.7m funding

May 31, 2017, 7:18 AM EDT

As the social trend of peer-to-peer travel catches pace, Amsterdam-based TRVL wants to be the first disrupter for conventional travel agency business. The firm has raised $2.7m funding, a sum it plans to utilize to create a new model, whereby the power of the crowd to work as a travel agency gets rewarded.

While a travel agent gets paid for researching and planning a trip, an ordinary individual doing the same activity for himself or his peers does it for free, which is what TRVL wants to change by building an earning model, writes Tech Crunch.

Although peer-to-peer travel is going mainstream is still in its nascent stage, which opens up new opportunities for agencies to prop up all kinds of related services on one platform, from connecting to planning and that too with an earning model, notes Travel + Leisure.