Introduction
Planning a vacation is not the easiest thing on earth. We get it. That's why we built Smoove Xperience.
Smoove Xperience ("SmooveX") aims to be an all-in-one travel super app with everything a traveler might need, from travel guides to itinerary planner to in-trip tools, local deals and more. We aim to simplify the research, planning and booking processes, so our users get to focus on exploring, discovering, and experiencing new things on their travels.
Investment Highlights
- Travel apps have already successfully been built around the world. But most fail to provide a frictionless integrated app encompassing the full travel experience from exploration and planning to in-destination guides and tools to post-journey reviews and social sharing.
- Smoove Xperience aims to help travelers plan and manage their trips for lasting memories through recommendations, curate travel guides and user-generated content, itinerary planning tools, local deals, and promotions and more via an AI-powered travel app.
- The global travel market size was $1.7 trillion in 2019 (source: UNWTO - World Travel Organization). The online travel market was $432.14 billion in 2020 and forecasted to almost double to $833.62 billion in 2025 (source: Statista).
- The Company started to generate revenue in May 2021 operating only in Singapore. In 2022, we plan to expand our reach to Hong Kong, Australia, New Zealand, and Oceania markets. We envision building up our competencies to later launch in the US market.
- Experienced executive team with over 120 years' hands-on in travel, technology, and payment industries, who are uniquely qualified to take the Company to the next level.
- Selected for the October 2021 Series Seed cohort of the Newchip Accelerator program based in Austin, Texas, USA.
- Selected for 500 Startups Global Launch San Francisco Batch 4 Growth Track program in January 2022.
Problem
Planning an overseas vacation for the average traveler is really tough, and dealing with multiple sources of information and tools can be really frustrating...
Solution
Everything you need to plan a vacation, in one app.
How it Works
We started from the ground up to envision and build the SmooveX app by mapping the 5 essential stages of a traveler's journey: 1) Dreaming Moments, 2) Planning Moments, 3) Shopping Moments, 4) Experiencing Moments, 5) Sharing Moments.
Dreaming Moments:
Everyone loves a great vacation. When you don’t know where to go for your next vacation, be inspired by our curated travel guides and other travelers’ recommendations. Browse through the gorgeous imagery, videos and travel content and start dreaming about your next trip! Check out the special offers and experiences that we will recommend for you, and we also plan for you to enjoy rebates and rewards when you book with us.
Planning Moments:
So, you have nailed down the destination for your next great vacation, now you gotta plan when to travel, how long to spend, how to get there, and the places to visit or things to do when you get there. Explore the recommended itineraries for your dream destination and copy those itineraries or better still reference them and customize to fit your preferences using the planned SmooveX smart itinerary planner. You will even be able to book your trip with one tap!
Shopping Moments:
Compare the various offers for your chosen destination and itinerary, book and pay for your trip in a few simple taps. Flights, accommodation, attraction tickets, tours, activities, unique experiences, eVisa application, COVID pre-departure tests etc., we aim to have you covered! Don’t forget to get your travel insurance, book your travel Wifi plan and emergency services, all in our envisioned one frictionless flow!
Experiencing Moments:
Explore, discover, and experience new things on your travels. Keep up to speed with all your schedules, tickets, and trip updates with our intended smart itinerary planner. Don’t know where to go, what to see, what to do or where to eat? Done! We plan to provide local recommendations and deals. Stay connected with travel Wifi and share your photos and video real-time to your friends and family. We are building a multi-currency wallet, so you avoid exorbitant forex charges and fraudulent transactions. We envision you can use the SmooveX app to do your entire route planning, navigation, weather check or even emergency help!
Sharing Moments:
Now that your trip is over, you are dying to tell the world what you did. Where once that meant showing photos or a carousel of slides to a small group in their living room, these days a photo or video can be shared around the world. We plan that with one tap, travelers will be able to share their travel experiences to their favorite social media accounts, be it photos, videos, reviews or recommended itineraries.
Business Model
Smoove Xperience aspires to be the leading travel super app in Asia, giving travelers a simple and trusted way to conveniently book and experience thousands of popular attractions, local experiences, and services around the world.
Market Opportunity
The International Tourism market was a huge $1.7 trillion in 2019, with 65% bookings made online.
Prior to the global COVID pandemic, there were 1,460 million international tourist arrivals in 2019, contributing tourism receipts of $1,481 billion. The Online Travel Market dropped to $432.14 billion in 2020 due to pandemic travel restrictions, but is projected to grow to $833.52 billion in 2025, a growth of about 93% in that period. Tours, Activities and Attractions is forecast to be the fastest growing segment at over 9% CAGR.
Traction
- Seed investment of $1.3 million from Asian investors in 2020 and 2021.
- Launch of SmooveX Beta app version on IOS App Store and Google Play Store in April 2021.
- Generated revenues of $1.17 million from May to December 2021, providing pre-departure COVID testing and travel Wifi services in Singapore.
- Strategic relationships with key players in the travel and ancillary industries: – GlobalTiX, Musement, Sherpa, Travel Lab, Trip Factory– EuropAssist, China T-Union– Fullerton Health, YogoFi travel WiFi– Memorandum of Understanding to assist in the re-launch of inbound travel to Pacific islands, Australia and New Zealand destinations
- Selected into start-up accelerator programs in the US:– Newchip Accelerator program (October 2021 Series Seed cohort)– 500 Start-ups Global Launch San Francisco (January 2022)
Press Mentions
- Ticker News – 20 December 2021
- Travel Weekly Asia – 01 November 2021
- Money FM 89.3 – 22 July 2021
- Travel Trade Gazette Asia – 19 July 2021
- Travolution – 04 June 2021
- PRWeb – 11 December 2020
Team
Board Advisors
Early Bird Discount
Investors who participate in the offering on or before June 3, 2022, will receive an early bird discount and be able to invest at a purchase price of $1.53 per share, which equates to a $20.84 million pre money valuation; and investors who participate in the offering after June 3, 2022 will invest at a purchase price of $1.70 per share, which equates to a $23.15 million pre money valuation
Use of Proceeds
If the offering's maximum amount of $1,069,999 is raised:
| Use | Value | % of Proceeds |
|---|---|---|
| Recruitment of staff (C-Suite, IT, Marketing & Sales, Customer Service) | $310,300 | 29.0% |
| Marketing & Sales, Customer Acquisition | $267,500 | 25.0% |
| Technology R&D, updating Mobile App | $256,800 | 24.0% |
| Admin, T&E | $108,070 | 10.1% |
| Legal & Professional | $74,899 | 7.0% |
| Intermediary fees | $52,430 | 4.9% |
Terms
This number includes all funds raised by the Company in this round on Netcapital. This is an offering of Class 2 Common Stock, under registration exemption 4(a)(6), in Smoove Xperience, Inc.. This offering must reach its target of at least $10,000 by its offering deadline of October 28, 2022 at 10:00pm ET. If this offering does not reach its target by the offering deadline, then your money will be refunded.
If the offering is successful at raising the maximum amount, then the company’s implied valuation after the offering (sometimes called its post-money valuation) will be:
Financials
These financial statements have been reviewed by an independent Certified Public Accountant.
SEC Filings
The Offering Statement is a formal description of the company and this transaction. It’s filed with the SEC to comply with the requirements of exemption 4(a)(6) of the Securities Act of 1933.
We’re also required to share links to each of the SEC filings related to this offering with investors.
Understand the Risks
Be sure to understand the risks of this type of investment. No regulatory body (not the SEC, not any state regulator) has passed upon the merits of or given its approval to the securities, the terms of the offering, or the accuracy or completeness of any offering materials or information posted herein. That’s typical for Regulation CF offerings like this one.
Neither Netcapital nor any of its directors, officers, employees, representatives, affiliates, or agents shall have any liability whatsoever arising from any error or incompleteness of fact or opinion in, or lack of care in the preparation or publication of, the materials and communication herein or the terms or valuation of any securities offering.
The information contained herein includes forward-looking statements. These statements relate to future events or to future financial performance, and involve known and unknown risks, uncertainties, and other factors, that may cause actual results to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties, and other factors, which are, in some cases, beyond the company’s control and which could, and likely will, materially affect actual results, levels of activity, performance, or achievements. Any forward-looking statement reflects the current views with respect to future events and is subject to these and other risks, uncertainties, and assumptions relating to operations, results of operations, growth strategy, and liquidity. No obligation exists to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
More Info
Updates
- Sep 18, 2023It’s Time to “GoFiji”. Smoove Xperience Inc....
- Oct 29, 2022Primary offering finalized, selling shares
- Oct 20, 2022View a recording of CEO Greg Duffell present...
- Sep 13, 2022SMOOVE XPERIENCE DEMO DAY is here, come travel...
- Jun 22, 2022Discover Fiji in the palm of your hands with...
- May 20, 2022Smoove Xperience Welcomes World-renowned...
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