London exploration app KOMPAS launches £400k funding round with Seedrs

A ‘city exploration’ app and startup, KOMPAS, has released a product redesign ahead of its £400k crowdfunding campaign launching on Seedrs today (December 18).

The London-based company offers a free app that provides users with personalised recommendations on what to see and do in six cities across the UK and Germany.

KOMPAS has already reached 50 per cent of its funding goal through a private phase of the Seedrs campaign having been launched last Monday (December 11).

Co-founder and CPO, Kurt Henderson, commented: “In the newly released update, we’ve responded to user feedback by giving the app a whole new look and feel, as well as adding new features.

“We’re really proud of the product’s progress in the latest version. We love the influence that our community has on the development of the company, which is why we’ve decided to open up the opportunity for our supporters to join our mission with this crowdfunding campaign.”

Founded in Munich in 2015, KOMPAS is the brainchild of co-founders Tom Charman and Olivia Higgs, who struggled to find authentic things to do on their year abroad at university.

Olivia said: “We struggled to go beyond the obvious, and discover the more authentic side of [Munich].” But with chief product officer Kurt Henderson, both Higgs and Charman created a platform aiming to find local, ‘off the beaten track’ places.

KOMPAS’ sector is said to be ripe for disruption; it is no news that people are constantly searching for new places nowadays.

KOMPAS is aiming to attract a market of £400m, mainly fuelled by millennials - 66 per cent of those are predicted to make up 47 per cent of the world’s travel market by 2020.

The app currently has over 19,000 users, and has secured a pre-seed round of angel investment worth £165k. The company has also secured partnerships with the likes of Visa Inc, London Midland and Bookatable.

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