Travel technology website TravelNest is to create more than 80 jobs at its Edinburgh base under a £7 million investment push, writes Brian Donnelly.

The firm, set up by Doug Stephenson, 24, just over two years ago, has received £2.3m in new R&D and regional selective assistance grant cash from Scottish Enterprise as a contribution towards the £7m to "accelerate its growth".

Michael Cannon, of Scottish Enterprise, said the website is a "fantastic example of a young, innovative company with global ambitions".

He added: "This news is further evidence of Edinburgh’s credentials as an attractive location for technology businesses, with the city named the most active tech innovation community outside of London in the UK Tech Innovation Index.

“We look forward to helping TravelNest scale up and create more inclusive, sustainable jobs for Scotland’s people.”

Mr Stephenson said: "To achieve our goal of winning in a global market, we need to move extremely quickly."

He added: "We’re excited about the future we’re building for ourselves here in Edinburgh.

"We have built an exceptional team here and will continue to maintain a high talent bar as we grow."

It is thought TravelNest has the potential to become a unicorn, or start-up company with a $1 billion market value.

Kate Forbes, public finance and digital economy minister, said: "Companies with innovation at the heart of their business, like TravelNest, are critical to the Scottish economy."