STARTUP STAGE: Sleap.io is a blockchain-based hotel booking platform

Sleap.io

Sleap.io uses the capabilities of web3 and blockchain to reimagine the hotel booking process to offer travelers a seamless, secure and personalized platform.

Founded in 2023, Sleap.io has more than 350,000 hotels on its platform and accepts payment in more than 200 cryptocurrencies. 

What is your 30-second pitch to investors?

Welcome to Sleap.io, the pioneering web3 hotel booking platform that's transforming the travel industry. Based in Zug, Switzerland, and led by CEO Michael Ros, we offer an exclusive gateway to over 350,000 hotels worldwide. Our platform stands out by accepting over 200 cryptocurrencies, making us a leader in digital currency adoption. With Sleap.io, we're not just offering a booking service; we're providing a seamless, secure and personalized travel experience. Our blockchain technology ensures transparent transactions, enhanced security and tailored offers right to your digital doorstep. Join us in revolutionizing the way the world books hotels, where convenience meets innovation.

Describe both the business and technology aspects of your startup.

• Business aspects - Sleap.io is strategically focused on web3 users and the new generation of travelers, particularly Gen Z. This demographic is tech-savvy, values digital experiences and is likely to be more receptive to innovations like cryptocurrency payments. The platform offers closed user group rates. These are special, personalized offers that are not available to the general public, providing a competitive edge in pricing and exclusivity.
  
  Sleap.io operates on a model of using net rates with a very small markup. This lean pricing strategy can make the platform highly attractive to cost-conscious travelers looking for value in their bookings. As of now, Sleap.io boasts a portfolio of 350,000 bookable hotels, with plans to expand to around 500,000 by the end of February. This growth trajectory highlights the platform's scalability and ambition in the hospitality sector. Offering the option to pay with both credit cards and cryptocurrencies caters to a broader range of customer preferences, making the platform accessible to traditional and modern travelers alike.
• Technology Aspects - Sleap.io is built on the Camino blockchain. This choice underlines a commitment to leveraging cutting-edge technology for enhanced security, transparency and efficiency in transactions. The platform's support for over 200 cryptocurrencies showcases its deep integration with the digital currency world, appealing to a crypto-savvy user base and positioning itself at the forefront of technological adoption in travel.
  
  Sleap.io's technology enables hotels and hotel partners to respond directly to booking requests. This direct interaction potentially speeds up the booking process and ensures more accurate and timely communication.
  
  Emphasizing web3 technologies, Sleap.io is positioned to offer more than just hotel bookings. The use of web3 potentially opens avenues for decentralized applications (dApps), smart contracts for bookings and payments and enhanced user data security and privacy

Give us your SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis of the company.

• Strength: Innovative payment system: Sleap.io's integration of blockchain technology for secure transactions and support for over 200 cryptocurrencies is a significant strength, setting it apart in the travel and hospitality industry.
• Weakness: Market niche focus: Focusing primarily on web3 users and cryptocurrency enthusiasts might limit Sleap.io's appeal to a broader audience who are less familiar with these technologies.
• Opportunity: Emerging market potential: The increasing global interest in cryptocurrencies and blockchain technology presents a significant growth opportunity, especially among younger, tech-savvy travelers.
• Threat: Regulatory challenges: The evolving and often uncertain regulatory landscape surrounding cryptocurrencies and blockchain technology poses a potential threat, impacting operational stability and expansion plans.

What are the travel pain points you are trying to alleviate from both the customer and the industry perspective

• Customer perspective
  • Payment flexibility and security: Customers often face limitations in payment options and security concerns when booking hotels. Sleap.io's use of blockchain technology not only allows for secure transactions but also offers the flexibility of paying with various cryptocurrencies, catering to a market segment that prefers or exclusively uses digital currencies.
  • Pricing transparency and affordability: Travelers frequently encounter opaque pricing structures with hidden fees. By utilizing net rates with minimal markup and offering Closed User Group (web3) rates, Sleap.io provides more transparent and competitive pricing.
  • Ease of use and accessibility: The complexity and sometimes overwhelming nature of traditional booking platforms can deter users. Sleap.io, with its focus on a user-friendly interface and streamlined booking process, seeks to make hotel booking more accessible and less time-consuming.
  • Personalization: Modern travelers, especially Gen Z, demand personalized experiences. Sleap.io's approach to offering tailored deals and accommodations caters to this desire for a unique and customized travel experience.
• Industry perspective
  • Market expansion and diversification: The hotel industry often struggles to tap into new customer segments. By embracing blockchain and cryptocurrencies, Sleap.io opens doors to a growing demographic of tech-savvy and crypto-oriented travelers, helping hotels reach a wider, more diverse audience.
  • Reduced dependency on traditional payment systems: The reliance on traditional banking systems and credit card networks can be limiting and costly for hotels. Sleap.io’s cryptocurrency payment options can reduce these dependencies, potentially lowering transaction fees and speeding up the payment process.
  • Adaptation to technological advances: The travel industry is under constant pressure to keep up with technological advancements. By integrating blockchain technology, Sleap.io positions itself and its partner hotels at the forefront of innovation, ready to adapt to future technological shifts in the industry.

So you've got the product, now how will you get lots of customers?

Sleap.io plans to attract customers through targeted digital marketing campaigns, focusing on platforms frequented by tech-savvy and web3 enthusiasts. We'll leverage social media, crypto forums, and online web3 communities to spread awareness. Partnerships with key influencers and businesses in the web3 ecosystems and travel sectors are already playing a vital role in expanding our reach. Additionally, we will attend tech and travel industry events to network and show our platform.

Tell us what process you've gone through to establish a genuine need for your company and the size of the addressable market.

We conducted extensive market research to understand the needs of modern travelers and the limitations of current booking platforms. Surveys and focus groups with web3 users and cryptocurrency enthusiasts helped identify their pain points in travel booking. Our analysis indicates a growing demand for blockchain-based services among younger travelers, especially Gen Z, and we estimate a substantial addressable market in this demographic.

How and when will you make money?

At Sleap.io, our primary revenue stream is meticulously crafted through a modest markup on net rates from hotel bookings. This strategy is at the heart of our commitment to offering competitive pricing, ensuring that our customers receive exceptional value while we maintain a sustainable model for revenue growth. Looking ahead, we are not just confined to conventional revenue avenues. We are excited to announce the launch of an exclusive NFT collection, representing a novel and innovative approach to revenue generation in the travel industry. Moreover, the future introduction of our own cryptocurrency token promises to open new dimensions of revenue possibilities. These forward-thinking initiatives are designed not just to enhance our financial robustness but also to deepen our integration with the blockchain ecosystem, underscoring our dedication to being a trailblazer in the fusion of technology and travel.

What are the backgrounds and previous achievements of the founding team?

Our founding team comprises individuals with diverse backgrounds in technology, web3, hotels and marketing. Michael Ros, our CEO, has extensive experience in the travel industry and has successfully led multiple startups. Other team members include experts in blockchain technology, digital marketing, and business development, each bringing valuable insights and achievements from their respective fields.

How have you addressed diversity and inclusion within your business?

At Sleap.io, we are committed to fostering a diverse and inclusive environment. We have implemented hiring practices that encourage applications from diverse backgrounds. Our team represents a mix of genders, ethnicities and cultural backgrounds. Our team comprises individuals from various countries, including the Netherlands, the United States, Poland, South Africa and others.

What's been the most difficult part of founding the business so far?

Due to the recent fraudulent activities, convincing web2 businesses about the benefits of web3 has become increasingly challenging. The key lies in not just talking about the potential of web3, but actively demonstrating its capabilities and ensuring robust security measures, which is what we’re doing with Sleap.io. This approach requires balancing innovation with a strong commitment to transparency and trust-building, especially in an environment where skepticism towards new technologies is heightened.

Generally, travel startups face a fairly tough time making an impact - so why are you going to be one of the lucky ones?

Sleap.io's unique proposition of integrating blockchain technology for secure, transparent and flexible hotel bookings sets us apart. Our focus on a specific, emerging market segment - web3 and cryptocurrency users - positions us to capture a niche yet growing customer base. This focus, combined with our innovative technology and strategic marketing, positions us to make a significant impact in the travel industry.

A year from now, what state do you think your startup will be in?

In a year, we anticipate substantial growth in our customer base and hotel partnerships. We aim to have expanded our hotel portfolio to over 500,000 properties worldwide. We plan to enhance our platform with personalized booking experiences and advanced blockchain functionalities to improve the customer journey and retention.

What is your end-game? (Going public, acquisition, growing and staying private, etc.)

Our end-game is to establish Sleap.io as a leading force in the travel industry, particularly in the web3 space. We are not just looking at traditional growth avenues; we're also considering innovative methods such as launching an Initial Coin Offering (ICO). This ICO could play a pivotal role in fully decentralizing our operations, aligning with the ethos of blockchain technology and providing a unique investment opportunity to our supporters. While we remain open to future opportunities such as acquisitions, our primary focus is on immediate growth and continuous innovation. We are dedicated to leading the integration of blockchain technology in travel, ensuring that Sleap.io stays at the forefront of this evolving industry.