Internet travel agent and tour operator Online Travel Corporation next week plans to raise #10m on the alternative investment market despite the high-profile failure last month of fellow internet retailer boo.com.
Hi-tech stockbroker Durlacher is advising on the share issue fresh from calling in the receivers on client Netimperative, the cash-hungry London-based media news and information site.
Boo.com drove into financial crisis without a finance director for almost year to control company purse strings, but Online will benefit from the experience of new finance director Robert Falkner, poached this spring from his position as chief accountant at British Airways.
Online, which is capitalised at #40m, runs travel websites for big names such as BT, Egg, Freeserve and Egg, but lets its partners pick up the costly marketing bill.
Senior management have steered clear of the last minute flight market and concentrated on last minute holidays and a range of holiday services and reached the #3m turnover mark three months ago.