The business travel industry in DACH revolves around facilitating travel for professionals, enabling corporate meetings, conferences, and negotiations. Companies range from airlines and hotels to travel tech startups, all contributing to a seamless experience. As the industry adapts to new norms, focus on sustainability and tech-driven solutions is prominent. The growing trend of hybrid work models suggests that business travel may evolve, seeing increased demand for unique experiences and flexible offerings. With investments in innovative platforms, the sector is poised for transformative growth, appealing to a modern workforce increasingly concerned about productivity and eco-friendly travel options.

This list features sixteen notable investors in the business travel sector hailing from the DACH region. With headquarters ranging from Berlin to Flensburg, these venture capital firms, corporate investors, and private equity firms have varied sizes and funding strategies. While some, like Mercedes-Benz AG and Deutsche Bank, have extensive histories and large-scale operations, other emerging firms, such as Speedinvest and Point Nine, are actively shaping the market with their bold initiatives. Collectively, in 2024, these investors executed dozens of deals, showing significant interest in the travel-tech landscape.

Top 12 Business Travel Investors in DACH

1. HV Capital

• Website: hvcapital.com
• Type: Venture Capital
• Headquarters: Flensburg, Schleswig-Holstein, Germany
• Founded year: 2000
• Headcount: 11-50
• Number of deals in 2024: 28
• LinkedIn: hvventures

HV Capital is a venture capital firm based in Flensburg, Schleswig-Holstein, Germany, founded in 2000. The firm specializes in investing in digital companies and supporting entrepreneurs from seed stage to exit, managing over €2.8 billion in assets. HV Capital has been actively involved in the transportation sector, particularly through its investments in FlixBus, a leading provider of long-distance bus services in Europe. HV Capital participated in several funding rounds for FlixBus, including a $650 million Series G round in June 2021 and a $563 million Series F round in July 2019. These investments highlight HV Capital's commitment to supporting innovative solutions in the travel industry, making them a relevant player in the business travel sector.

2. Speedinvest

• Website: speedinvest.com
• Type: Venture Capital
• Headquarters: Vienna, Vienna, Austria
• Founded year: 2011
• Headcount: 51-200
• Number of deals in 2024: 45
• LinkedIn: speedinvest

Speedinvest is a venture capital firm based in Vienna, Austria, founded in 2011. The firm specializes in funding early-stage tech startups across Europe, providing both capital and hands-on support to help these startups scale their operations. Speedinvest's investment focus spans various technology sectors, including Deep Tech, Fintech, and SaaS. Notably, they have made significant investments in the travel sector, including a $11 million Series A investment in Impala, a TravelTech API service, and multiple rounds of funding for TourRadar, a Vienna-based travel marketplace. Their investments in TourRadar include a $50 million Series C round and earlier funding rounds that helped the company expand its offerings and grow its team. These transactions highlight Speedinvest's commitment to supporting innovative solutions in the travel industry, particularly those that enhance the travel experience and streamline operations.

3. TA Ventures

• Website: taventures.vc
• Type: Venture Capital
• Headquarters: Frankfurt, Hesse, Germany
• Founded year: 2010
• Headcount: 11-50
• Number of deals in 2024: 5
• LinkedIn: ta-ventures

TA Ventures is a venture capital firm based in Frankfurt, Hesse, Germany, founded in 2010. The firm specializes in early-stage technology startups across various sectors, including HealthTech and FinTech, but has also shown a significant interest in the travel industry. Notably, TA Ventures has invested in itravel, a travel booking platform, through multiple funding rounds, including a Series A and Series B, raising a total of over $9 million. They also participated in the seed round for GetGoing, a travel-related startup, which raised $2.5 million. Additionally, their investment in Bravofly and Dreamlines, both of which operate in the travel sector, further highlights their engagement in this industry. TA Ventures not only provides capital but also strategic support to help startups thrive in competitive markets, making them a valuable partner for companies in the business travel space.

4. Tui

• Website: tuigroup.com
• Type: Corporate
• Headquarters: Hanover, Lower Saxony, Germany
• Founded year: 1923
• Headcount: 10001+
• LinkedIn: tuigroup

TUI Group, founded in 1923 and based in Hanover, Lower Saxony, Germany, is a leading integrated tourism company that offers a comprehensive range of travel services. With a workforce of over 10,000 employees, TUI serves millions of customers worldwide, ensuring a seamless travel experience through its diverse offerings and strong brand presence in the tourism industry. Notable transactions include the acquisition of Destination Services in 2018 for $135 million, which enhances their service offerings in the travel sector. Additionally, TUI acquired Musement, an Italian digital company specializing in tours and attractions, further expanding their operational capabilities and customer reach. These strategic investments indicate TUI's commitment to enhancing their travel services, which can encompass business travel solutions, making them a relevant player in the business travel investment landscape.

5. Rocket Internet SE

• Website: rocket-internet.com
• Type: Venture Capital
• Headquarters: Berlin, Berlin, Germany
• Founded year: 2007
• Headcount: 201-500
• LinkedIn: rocket-internet-se

Rocket Internet SE is a venture builder based in Berlin, Germany, founded in 2007. The firm specializes in incubating and investing in internet and technology companies globally, providing operational support and capital to entrepreneurs. Rocket Internet has a diverse portfolio that spans various sectors, including eCommerce, PropTech, and FinTech. Notably, Rocket Internet has invested in several companies within the travel industry, such as TravelBird, which raised $5.6 million in Series A funding in March 2014, and Tripda, which raised a total of $17.1 million in Series A funding across two rounds in 2014 and 2015. Additionally, they invested in Wimdu, an Airbnb clone, which raised $90 million, showcasing their commitment to the travel sector. These transactions highlight Rocket Internet's engagement in the business travel space, making it a relevant investor in this category.

6. Partners Group

• Website: partnersgroup.com
• Type: Private Equity
• Headquarters: Baar, Zug, Switzerland
• Founded year: 1996
• Headcount: 1001-5000
• Number of deals in 2024: 19
• LinkedIn: partners-group

Partners Group Holding AG is a prominent investment management firm based in Baar, Zug, Switzerland, specializing in private equity, private infrastructure, private real estate, and private debt. Founded in 1996, the firm manages over USD 149 billion in assets and is recognized for its innovative investment strategies and commitment to sustainability. Recently, Partners Group has made significant strides in the hospitality sector, acquiring a majority stake in Blue Sea Hotels, a platform that operates 25 hotels in the three- to four-star segment, which is crucial for business travelers seeking comfortable yet affordable accommodations. Additionally, their acquisition of Côte Restaurants, a dining establishment, highlights their focus on sectors that cater to the needs of business travelers. These transactions demonstrate Partners Group's active role in the business travel industry, making them a noteworthy investor in this space.

7. Point Nine

• Website: pointnine.com
• Type: Venture Capital
• Headquarters: Berlin, Berlin, Germany
• Founded year: 2011
• Headcount: 11-50
• Number of deals in 2024: 16
• LinkedIn: point-nine-capital

Point Nine is a venture capital firm based in Berlin, Germany, founded in 2011. They specialize in investing in early-stage companies, particularly in the SaaS, enterprise software, and B2B marketplace sectors. With a focus on seed-stage funding, Point Nine supports technology startups in scaling their operations. Among their notable transactions, they invested in GoOpti, a ride-sharing platform that enhances transportation options for business travelers across Europe, raising €4.4 million in Series A funding. Additionally, they participated in funding rounds for cargo.one, a digital booking platform for air cargo, which is crucial for logistics in business travel, especially during the COVID-19 pandemic when demand surged for efficient cargo services. These investments highlight Point Nine's commitment to supporting innovative solutions in the travel and transportation sectors.

8. Cherry Ventures

• Website: cherry.vc
• Type: Venture Capital
• Headquarters: Berlin, Berlin, Germany
• Founded year: 2012
• Headcount: 11-50
• Number of deals in 2024: 25
• LinkedIn: cherry-ventures

Cherry Ventures is a Berlin-based venture capital firm founded in 2012, specializing in early-stage investments across Europe. With a focus on providing capital, mentorship, and resources to startups, they have made significant contributions to various sectors, including SaaS and mobility. Notably, Cherry Ventures has invested in FlixBus, which raised funds in 2013 and has become a leader in the intercity bus travel market, and TourRadar, a Vienna-based travel marketplace that has raised multiple rounds of funding, including $50 million in Series C in 2018. These transactions highlight their active role in the travel industry, particularly in business travel, as they support companies that aim to innovate and improve travel services.

9. Mercedes-Benz AG

• Website: mercedes-benz.com
• Type: Corporate
• Headquarters: Stuttgart, Baden-Württemberg, Germany
• Founded year: 1883
• Headcount: 10001+
• Number of deals in 2024: 1
• LinkedIn: mercedes-benz_ag

Mercedes-Benz AG is a prominent automobile manufacturer based in Stuttgart, Germany, known for producing luxury vehicles and vans. Founded in 1883, the company has a long-standing reputation for quality and performance in the automotive industry. In addition to its core business of vehicle manufacturing and retail, Mercedes-Benz AG has made strategic investments in the business travel sector. Notably, they have invested in Blacklane, a Berlin-based startup that provides professional chauffeur services, raising significant funds to expand its sustainable travel initiatives and global services. Furthermore, Mercedes-Benz AG participated in the investment rounds for FlixBus, a leading intercity bus service, highlighting their interest in enhancing travel solutions. These transactions reflect Mercedes-Benz AG's engagement in the business travel industry, catering to both individual consumers and businesses with advanced travel options.

10. Atlantic Labs

• Website: atlanticlabs.de
• Type: Venture Capital
• Headquarters: Berlin, Berlin, Germany
• Founded year: 2013
• Headcount: 11-50
• Number of deals in 2024: 13
• LinkedIn: atlantic-labs

Atlantic Labs is a venture capital firm based in Berlin, Germany, founded in 2013. The firm is dedicated to supporting exceptional, mission-driven founders throughout their entrepreneurial journey. They focus on investing in startups across various sectors, including climate tech, AI, and digital health, providing both capital and strategic guidance to help these businesses grow. Notably, Atlantic Labs has made significant investments in the travel sector, including Omio, which raised $27 million in Series A funding in 2014 and $4 million in a Seed Round in 2013. Omio is a travel booking platform that simplifies the process of finding and booking transportation across different modes, making it relevant to business travel. Additionally, Atlantic Labs participated in the funding rounds for Campanda, an international platform for motorhome and campervan rentals, which raised €10 million in Series B funding in 2017 and $5.45 million in Series A funding in 2015. These transactions highlight Atlantic Labs' engagement in the travel industry, particularly in areas that cater to both leisure and business travel needs.

11. Deutsche Bank

• Website: db.com
• Type: Corporate
• Headquarters: Frankfurt, Hesse, Germany
• Founded year: 1870
• Headcount: 10001+
• Number of deals in 2024: 32
• LinkedIn: deutsche-bank

Deutsche Bank AG is a prominent investment bank and financial services provider founded in 1870, headquartered in Frankfurt, Hesse, Germany. With over 10,000 employees, the bank offers a comprehensive suite of solutions including investment banking, corporate banking, cash management, trade finance, and securities services. Deutsche Bank serves a diverse clientele, including corporate and institutional clients, helping them manage their financial assets and liquidity effectively through its digital platform, Autobahn. Notably, Deutsche Bank has been involved in significant transactions relevant to the business travel sector, such as providing an $850 million post-IPO debt for Hilton Grand Vacations, which is directly linked to the travel industry. Additionally, they participated in a €220 million credit facility for Bolt, a mobility company that competes with Uber, indicating their engagement in financing companies that facilitate travel and transportation. These transactions highlight Deutsche Bank's active role in supporting businesses that are integral to the business travel ecosystem.

12. Project A

• Website: project-a.com
• Type: Venture Capital
• Headquarters: Berlin, Berlin, Germany
• Founded year: 2012
• Headcount: 51-200
• Number of deals in 2024: 13
• LinkedIn: project-a-ventures

Project A is a venture capital firm based in Berlin, Germany, founded in 2012. They specialize in early-stage tech investments and provide operational support for startups. Their services include consulting in tech and growth, access to a network of investors, and pre-seed investment opportunities. Notably, Project A has invested in several companies relevant to the business travel industry, including Origin, a travel membership company that raised $5 million to expand globally, and Horizn Studios, a smart luggage startup that has raised a total of €25 million across multiple funding rounds. These investments highlight Project A's engagement with the travel sector, particularly in innovative solutions that enhance the travel experience.

Business Travel Insights: Key Investors in DACH

Investor	Headquarter	Size	Founded	Deals 2024
HV Capital	Flensburg, Schleswig-Holstein, Germany	11-50	2000	28
Speedinvest	Vienna, Vienna, Austria	51-200	2011	45
TA Ventures	Frankfurt, Hesse, Germany	11-50	2010	5
Tui	Hanover, Lower Saxony, Germany	10001+	1923	0
Rocket Internet SE	Berlin, Berlin, Germany	201-500	2007	0
Partners Group	Baar, Zug, Switzerland	1001-5000	1996	19
Point Nine	Berlin, Berlin, Germany	11-50	2011	16
Cherry Ventures	Berlin, Berlin, Germany	11-50	2012	25
Mercedes-Benz AG	Stuttgart, Baden-Württemberg, Germany	10001+	1883	1
Atlantic Labs	Berlin, Berlin, Germany	11-50	2013	13
Deutsche Bank	Frankfurt, Hesse, Germany	10001+	1870	32
Project A	Berlin, Berlin, Germany	51-200	2012	13

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