GuruWalk, a Spanish provider of tip-based guided tours, raised €1M in seed funding.
The funding came primarily from the mentors in the SeedRocket startup accelerator and led by the Harvard Alumni group, Ethos Angel Investment Fund.
This round was also made possible by a €300k participatory loan from the Valencian Financial Institute (IVF).
The company intends to use the funds to expand operations and its business reach.
Founded in 2017 by Juan Castillo, GuruWalk is an international community that offers pay-what-you-please walking tours, or free walking tours. This type of tour consists of guided visits of the most emblematic sites of a city and also includes themed visits or alternative tours. On the platform, travelers from all over the world have the chance to contact local guides for free. Tourists pay only a tip to the guide at the end of the tour.
The tip varies based on the participant’s satisfaction with the experience offered by the guide.
In more than two years, GuruWalk has established connections with local guides in almost 100 countries.