Airbnb rival Riparide books $4m as Covid restrictions ease

Fresh from a $4m capital raise, Australian Airbnb rival Riparide is kicking off an international expansion ahead of a bumper upcoming holiday period.

Riparide property Alkira, an eco-glamping place in Victoria.

Australian Airbnb rival Riparide is kicking off an international expansion, thanks to a fresh $4m capital raise and a bumper upcoming holiday period as Covid restrictions ease.

The start-up, which was founded in 2014 and specialises in unique escapes and rural adventures for city-dwellers, will first expand to Auckland before pushing further across New Zealand and the globe.

Capitalising on a trend towards tiny homes and cabin stays, Riparide has raised $4m from investment groups Macdoch Ventures and Upswell Ventures, as it races towards its stated goal of becoming the top platform for consumers to book mini-escapes within the next three years. Despite the pandemic, the company has seen a 300 per cent increase in bookings growth year-on-year.

The start-up’s point of difference is its ‘travel stories’, which lets property owners bring their listings to life through the help of storytellers. Instead of text descriptions, Riparide’s listings feature stories of how travellers are invited to use the accommodation they’re booking, like visit a local waterfall or hike a nearby trail. It currently lists around 2000 stays across Victoria and NSW.

Supplied Editorial Marlon Law, founder of Riparide.

The company also uses a unique metric on its bookings – fulfilment – after every Riparide trip, customers can review how fulfilled they felt, and Riparide uses this data to track alignment to their mission.

To date, Riparide customers have recorded an average fulfilment score of over 95 per cent.

“We’re excited to inspire more people to live life fully. Now, more than ever, society needs to disconnect from the stresses they face on the daily and plot weekend escapes. It’s fantastic to have such great partners backing Riparide’s mission,” Riparide co-founder Marlon Law said.

According to Mr Law, weekend escapes are more important now than ever in the wake of Covid-19 lockdowns, and the message to unplug and get out into nature has resonated with Riparide customers, the bulk of whom are Millennials.

“We are thrilled to partner with Riparide to help them power their global expansion,” said Eliza Jackson, Venture Associate at Macdoch Ventures.

“Riparide makes new regions easily discoverable with travellers’ stories, ensuring properties are controlled for factors like isolation and adventure. As a result, the time it takes to make a booking is far lower than other sites.

“Its impressive growth and engagement metrics are testament to the customer love and community they have created around their mission of helping people find fulfilment.”

Originally published as Airbnb rival Riparide books $4m as Covid restrictions ease