Investing in the Tourism Sector

Travello Paspalis

Helping to stimulate the tourism industry in the Northern Territory, Darwin Innovation Hub facilitated the recent investment in Travello by the Paspalis Innovation Investment Fund (PIIF)

Together with Queensland Investment Corporation, PIIF invested as part of the Series B $10 million raise by tourism company, Travello in 2022.

Paspalis CEO Harley Paroulakis said the investment in Travello was part of the company’s entry into the global online “experiences vertical” which he believes Travello can dominate in the coming years.

“They’re a great team with a fast-growing track record,” Mr Paroulakis said.

The capital raised will support its land grab to become the biggest online travel experiences platform in Australia and New Zealand.

Specifically the capital from Darwin-based Investment Fund PIIF, will be used to support a dedicated premises with a full-time Destination Manager in the Northern Territory with a view to expand the Northern Territory based team over the next 5 years.

Travello Paspalis

Travello Founders: Ryan Hanly (left) and Mark Cantoni (right)

Mark Cantoni says, “We’re excited to increase our footprint in the Northern Territory tourism industry with a dedicated presence and full time Destination Manager. There is a noticeable appetite for NT experiences.”

Ryan Hanly says, “We always had a plan to expand into the Territory, working with the DIH and the subsequent investment from PIIF has given us the support to accelerate that timeline.”

Read more about Travello here.

Popular Travello experience Matt Wright’s Great Northern Heli Pub Crawl

About Travello

Founded in 2016 by Ryan Hanly and Mark Cantoni, Travello enables users to browse and book more than 20,000 tours, attractions and activities from around the world. It has been used by more than 2 million people in 180 countries. Travello’s aim is to simply make travelling easier and to help travellers connect.

With Travello, users can also:

  • Discover – Discover other travellers nearby & meetups to join
  • Social Feed – Post your travel updates & photos or interact with other travellers
  • Join Interest Groups – Join groups that match your interests & interact with travellers in the group
  • Match Travel Plans – Find travellers who will be in the same destination at the same time
  • Travel Deals – Discover location based travel deals from all around the world
  • Be Rewarded – Earn status badges & reward points to redeem on purchasing Travello Experiences

About Paspalis Innovation Investment Fund

Paspalis is one of Australia’s leading private investment firms. Their business aligns its interests with those of their investors and partners for lasting impact in Australia’s North.

Paspalis invests in both Australian and Offshore high growth companies looking to grow their businesses in the Northern Territory. When Paspalis invest, they are able to leverage their reputation, knowledge, programs and network, providing meaningful positive value to their investees.

Australian companies will be considered for investment where those companies are engaged in high growth ventures that create an economic advantage to the Northern Territory. Offshore companies will be considered for investment where those companies are prepared to relocate to the Northern Territory and/or are involved in high growth ventures that provide an economic advantage to the Northern Territory.

Learn more about PIIF and their criteria here