The tour operator industry in DACH is a vibrant sector combining travel planning and experience delivery for consumers. Companies here provide a range of services including vacation packages, cruises, and personalized travel itineraries. This industry is experiencing a notable shift towards digitalization, with tech-driven solutions facilitating easier booking processes for customers. The rise of sustainable tourism is gaining traction, prompting operators to focus on eco-friendly travel options, enriching the travel experience while keeping it responsible. Recovery from the pandemic has sparked creativity, pushing companies to innovate their offerings and enhance customer loyalty through unique travel experiences.


The list features an array of investors from the DACH region, ranging from prominent corporate players like TUI, to dynamic venture capital firms such as TA Ventures and Speedinvest. With headquarters spread across major cities—Berlin, Frankfurt, and Munich—these investors vary in size, with employee counts between 1 and 10 or upwards of 10,001. Established between 1883 and 2015, the firms have actively participated in the tour operator sector, tallying numerous deals through 2024, each shaping the future of travel with fresh funding and innovative strategies.


Top 14 Tour Operator 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 involved in several notable transactions, particularly in the travel sector, where they have invested heavily in Tourlane, a Berlin-based travel startup. They participated in Tourlane's funding rounds from Series A to Series D, contributing to a total of over $100 million raised by the company. This includes a Series D round of approximately $26.3 million in November 2024, as well as earlier rounds that provided critical funding for the company's growth and technological advancements. Through these investments, HV Capital has shown a commitment to the tour operator industry, helping to shape the future of travel services in Europe.


2. 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, including hotels, cruises, and activities. With a strong brand presence and a focus on providing seamless vacation solutions, TUI serves millions of customers worldwide. The company has made several strategic acquisitions to enhance its position in the tour operator industry, including the acquisition of Le Passage, a local travel company in Germany, and Musement, an Italian digital company specializing in tours and attractions. These acquisitions allow TUI to leverage its extensive customer base and improve operational capabilities. Additionally, TUI's acquisition of Destination Services for $135 million and its agreement to acquire Hapag-Lloyd Cruises for an enterprise value of €1.2 billion further illustrate its commitment to expanding its tour operator services and enhancing its offerings in the travel sector.


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 made significant investments in the travel industry. Notably, TA Ventures has invested in itravel, which raised over $7 million in Series B funding in 2018 and $2.2 million in Series A funding in 2016. Additionally, they have invested in Dreamlines, a travel agency that raised $25 million in Series C funding in 2014 and $9.9 million in Series B funding in 2013. They also supported WAH Holidays in its seed round in 2013. These transactions highlight TA Ventures' active role in the tour operator sector, demonstrating their capability and interest in fostering growth within this industry.


4. 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. While their primary focus spans various sectors including eCommerce, PropTech, and FinTech, they have also made significant investments in the travel industry. Notable transactions include a Series A investment in TravelBird, which raised $5.6 million in March 2014, and Tripda, which received a total of $17.6 million across two Series A rounds in early 2014 and 2015. Additionally, they invested in ClickBus, a platform for bus ticketing, raising $10 million in August 2014. In 2017, Rocket Internet acquired Camping-and-co.com, further demonstrating their commitment to the travel sector. These transactions highlight Rocket Internet's active role in supporting companies that enhance travel and tourism services.


5. Mairdumont Ventures


Mairdumont Ventures is a venture capital firm founded in 2015, located in Ostfildern, Baden-Württemberg, Germany. The firm specializes in investments in digital travel companies, providing both capital and consulting services to early-stage startups in the travel tech sector. Mairdumont Ventures leverages its extensive network and expertise in the travel industry to support its portfolio companies. Notable transactions include investments in Travelcircus, a platform for booking travel experiences; Zizoo, a leading boat rental platform; Beach-Inspector.com, which focuses on beach reviews and bookings; tourias GmbH, a travel service provider; and PaulCamper, a camper-sharing platform. These investments highlight Mairdumont's commitment to fostering innovation and growth within the travel and tourism industry.


6. 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. In the context of the tour operator industry, Project A has made notable investments such as in Trendtours Touristik, which raised an undisclosed amount in a venture round in 2018, and Origin, a travel membership company that secured $5 million in funding led by Project A in 2022. Additionally, they have invested in Horizn Studios, a smart luggage startup, which, while not a tour operator, is related to the travel industry. These transactions highlight Project A's engagement with the travel sector, particularly in supporting innovative solutions that enhance the travel experience.


7. 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 focus spans various technology sectors, including Deep Tech, Fintech, and SaaS. Notably, Speedinvest has made significant investments in the tour operator industry, particularly in TourRadar, a Vienna-based tour travel marketplace. They participated in multiple funding rounds for TourRadar, including a $500,000 angel round in 2014, a $6 million Series A round in 2016, and a $50 million Series C round in 2018. These investments highlight Speedinvest's commitment to the travel and tour operator sector. Additionally, they invested in tripmakery, which further emphasizes their engagement in the travel industry.


8. HomeToGo

  • Website: hometogo.com
  • Type: Corporate
  • Headquarters: Berlin, Berlin, Germany
  • Founded year: 2014
  • Headcount: 501-1000
  • LinkedIn: hometogo

HomeToGo is a Berlin-based vacation rental platform founded in 2014, specializing in aggregating listings from various providers to offer travelers a comprehensive search tool for booking accommodations. The company operates in multiple countries, providing millions of vacation rental options. HomeToGo has been actively involved in strategic acquisitions to enhance its market position in the travel sector. Notable transactions include the acquisition of a 51% majority stake in KMW Reisen GmbH and Super Urlaub GmbH for approximately €31 million, which is expected to close in early January 2024. This acquisition marks the largest in HomeToGo's history and is projected to generate significant revenues. Other relevant acquisitions include EscapadaRural in December 2019, Feries in September 2018, and CASAMUNDO in October 2018, all of which strengthen HomeToGo's portfolio in the vacation rental and travel market.


9. 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. The firm specializes in investing in early-stage companies, particularly in the SaaS, enterprise software, and B2B marketplace sectors. They provide funding at the seed stage and are committed to participating in subsequent funding rounds to help startups scale their operations. Notably, Point Nine has invested in several companies relevant to the travel and tour operator industry, including Couchsurfing, which raised $7.6 million in Series A funding, and GoOpti, a ride-sharing platform for shuttle bus services that raised €4.4 million in Series A funding. Additionally, they have invested in Tripaneer, further showcasing their interest in the travel sector. These transactions highlight Point Nine's potential relevance to the tour operator industry, despite their broader focus on technology startups.


10. IBB Ventures


IBB Ventures is a venture capital firm based in Berlin, Germany, founded in 1997. The firm specializes in early-stage financing and has invested in over 270 startups, providing them with the necessary funding and support to thrive in competitive markets. Among their notable transactions, IBB Ventures invested in Travelcircus, which raised $2,155,846 in a seed round in January 2016, indicating their commitment to the travel sector. They also invested in Yachtico.com, a platform for yacht charters and vacations, showcasing their interest in the tourism industry. Furthermore, their recent investment in eco.mio, a sustainability-focused company that collaborates with the travel sector, highlights their engagement with businesses that intersect with travel and tourism, particularly in promoting sustainable practices.


11. Axel Springer

  • Website: axelspringer.com
  • Type: Corporate
  • Headquarters: Berlin, Berlin, Germany
  • Founded year: 1946
  • Headcount: 10001+
  • Number of deals in 2024: 1
  • LinkedIn: axel-springer-se

Axel Springer SE is a prominent media company based in Berlin, Germany, founded in 1946. It specializes in publishing news and digital media, operating a diverse portfolio of brands such as BILD and Business Insider. The company is committed to independent journalism and leveraging technology to enhance its media offerings. As an investor, Axel Springer has shown interest in various sectors, including travel and tourism. Notably, they participated in multiple funding rounds for Zizoo, a leading boat rental platform, contributing to its growth and market expansion. Their investments in Zizoo include a significant seed round in 2016, where they were part of a group of investors that raised €2.5 million, and a Series A round in 2018, indicating a sustained interest in the travel-related startup. Additionally, their investment in Thrillist Media Group, which focuses on lifestyle and travel content, further highlights their engagement in the tourism sector.


12. Monkfish Equity


Monkfish Equity GmbH is a venture capital firm based in Leipzig, Saxony, Germany, founded in 2011. The firm specializes in providing equity funding and strategic support to early-stage and growth-stage startups, particularly in the internet and technology sectors. Monkfish Equity has a notable track record of investing in the travel and tourism industry, with significant transactions including a $1.5 million seed round for Tourlane, a platform that simplifies travel planning, and a $3,044,005 seed round for Campanda, a marketplace for motorhome rentals. Additionally, they invested in GlampingHub, which raised $40,000 in a pre-seed round, catering to the growing trend of luxury camping experiences. These investments highlight Monkfish Equity's commitment to supporting innovative solutions within the travel sector, making them a relevant player in the tour operator investment landscape.


13. 10x Group

  • Website: 10x.group
  • Type: Venture Capital
  • Headquarters: Munich, Bavaria, Germany
  • Founded year: 2006
  • Headcount: 1-10
  • Number of deals in 2024: 2
  • LinkedIn: 10x-group

10x Group is a venture capital firm based in Munich, Bavaria, Germany, founded in 2006. The firm invests in founders and startups across Europe and Silicon Valley, focusing on providing financial backing and strategic support to entrepreneurs in various industries, particularly technology and software. Notably, 10x Group has participated in funding rounds for companies relevant to the travel and accommodation sector, such as Roadsurfer, which raised €24 million in a Series B funding round in 2021, and Roomstorm, which raised multiple seed rounds. These investments highlight 10x Group's engagement with businesses that operate within the tour operator context, showcasing their versatility as an investor.


14. 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, founded in 1883 and based in Stuttgart, Baden-Württemberg, Germany, is a leading automobile manufacturer known for producing luxury vehicles and vans. The company is recognized for its commitment to quality and performance, offering a range of cars and vans equipped with advanced technology. In addition to its core automotive business, Mercedes-Benz has made strategic investments in the travel and transportation sector. Notably, the company has invested in FlixBus, a prominent player in the bus transportation industry, and Blacklane, a Berlin-based startup that provides premium chauffeur services. Blacklane has raised significant funding in multiple rounds, with Mercedes-Benz participating in their Series C, D, and an undefined funding round, indicating a strong interest in sustainable travel initiatives and expanding mobility services. These investments highlight Mercedes-Benz's engagement in the tour operator context, as they support companies that enhance travel experiences.



Tour Operator Insights: Key Investors in DACH


InvestorHeadquarterSizeFoundedDeals 2024
HV CapitalFlensburg, Schleswig-Holstein, Germany11-50200028
TuiHanover, Lower Saxony, Germany10001+19230
TA VenturesFrankfurt, Hesse, Germany11-5020105
Rocket Internet SEBerlin, Berlin, Germany201-50020070
Mairdumont VenturesOstfildern, Baden-Württemberg, Germany1-1020150
Project ABerlin, Berlin, Germany51-200201213
SpeedinvestVienna, Vienna, Austria51-200201145
HomeToGoBerlin, Berlin, Germany501-100020140
Point NineBerlin, Berlin, Germany11-50201116
IBB VenturesBerlin, Berlin, Germany11-50199718
Axel SpringerBerlin, Berlin, Germany10001+19461
Monkfish EquityLeipzig, Saxony, Germany1-1020110
10x GroupMunich, Bavaria, Germany1-1020062
Mercedes-Benz AGStuttgart, Baden-Württemberg, Germany10001+18831


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