The travel agency industry in Europe is dynamic and multifaceted, with companies ranging from traditional brick-and-mortar agencies to innovative online platforms. These businesses provide vital services such as flight bookings, custom travel itineraries, hotel accommodations, and comprehensive travel packages tailored to the needs of individual travelers and corporations alike. With a growing trend towards digital transformation, agencies are leveraging technology, such as AI and mobile applications, to enhance customer experiences. The continued rise of experiential travel and sustainable tourism is reshaping the services offered, suggesting that adaptability and innovation will drive the industry's future growth.

This listing presents a range of investors shaping the travel agency sector in Europe. The group includes venture capital firms like Bpifrance French Tech Accélération, corporations such as Thomas Cook and Accor, and private equity players including Permira and ECI Partners. Headquartered across major European cities such as Paris, London, and Madrid, these investors collectively made 398 investments in 2024. They vary in size from small teams to large organizations, with a founding year stretching back to 1841. Each investor plays a distinct role in supporting and fueling innovation within the travel industry.

Top 15 Travel Agency Investors in Europe

1. Bpifrance French Tech Accélération

• Website: bpifrance.com
• Type: Venture Capital
• Headquarters: Paris, Île-De-France, France
• Founded year: 2015
• Headcount: 1-10
• Number of deals in 2024: 198
• LinkedIn: bpifrance-french-tech-acc%c3%a9l%c3%a9ration

Bpifrance French Tech Accélération is a public entity and financial institution based in Paris, Île-De-France, France, founded in 2015. It aims to support entrepreneurs and businesses in France and internationally through a variety of services, including direct funding, export credit insurance, and private equity investments. Bpifrance fosters entrepreneurship and innovation by providing coaching and partnerships to help businesses navigate growth and international expansion. In the travel agency context, Bpifrance has been involved in significant transactions such as investing in Marietton Development, a prominent French tour operator, alongside Certares. They also participated in the funding rounds for Evaneos, a travel tech startup, raising €20 million in 2022 and $21 million in 2016. Furthermore, Bpifrance partnered with Hivest Capital to acquire Rail Europe, indicating their active role in the travel sector.

2. Crowdcube

• Website: crowdcube.com
• Type: Corporate
• Headquarters: London, England, United Kingdom (UK)
• Founded year: 2010
• Headcount: 51-200
• Number of deals in 2024: 3
• LinkedIn: crowdcube-limited

Crowdcube is a London-based crowdfunding platform founded in 2010 that enables businesses to raise capital through equity investments. It connects startups and SMEs with potential investors, facilitating the funding process. Crowdcube promotes diversity and inclusion within its workforce while providing investment management services to its clients. Notably, Crowdcube has been involved in several transactions relevant to the travel agency industry, including LuckyTrip, which raised $616,561 in September 2022, and SkiYodl, which raised a total of $1,791,305 across two rounds in February 2021 and February 2023. Additionally, SuperAger World and Gomingo are other travel-related ventures that have successfully raised funds through Crowdcube, further highlighting its active role in supporting travel startups.

3. Thomas Cook

• Website: thomascook.com
• Type: Corporate
• Headquarters: London, England, United Kingdom (UK)
• Founded year: 1841
• Headcount: 51-200
• LinkedIn: thomascook-com

Thomas Cook is a corporate investor based in London, England, with a rich history dating back to 1841. As a prominent travel agency, Thomas Cook offers a diverse array of holiday packages, city breaks, and travel services, ensuring a hassle-free experience for travelers. The company emphasizes customer support and financial protection, catering to those seeking organized and enjoyable travel experiences. Over the years, Thomas Cook has made significant acquisitions to strengthen its position in the travel industry, including the acquisition of Marlin Travel in 1993, Gold Medal in 2008 for approximately $129.7 million, and Travel Corporation India in 2013, which solidified its status as the largest tour operator in India. Additionally, in 2017, Thomas Cook India acquired Kuoni's Destination Management Company network, further enhancing its operations in the travel sector. These strategic moves highlight Thomas Cook's active role in the travel agency market and its commitment to growth and innovation within the industry.

4. HOWZAT Partners

• Website: howzatpartners.com
• Type: Venture Capital
• Headquarters: Luxembourg
• Founded year: 2006
• Headcount: 1-10
• Number of deals in 2024: 2
• LinkedIn: howzat-media

HOWZAT Partners is a venture capital investment fund based in Luxembourg, founded in 2006. The firm specializes in investing in digital businesses and provides funding and strategic advisory services to early-stage companies. Their investment portfolio includes significant transactions in the travel agency sector, such as their investments in itravel, where they participated in multiple funding rounds (Series A in 2016 and 2017, and Series B in 2018), raising a total of over $11 million. Additionally, they invested in otelz.com, contributing to both Series A and Series B funding rounds, totaling $5.4 million. These investments highlight HOWZAT Partners' commitment to supporting innovative companies in the travel industry, particularly those leveraging digital platforms to enhance travel services.

5. Kima Ventures

• Website: kimaventures.com
• Type: Venture Capital
• Headquarters: Paris, Île-De-France, France
• Founded year: 2010
• Headcount: 1-10
• Number of deals in 2024: 50
• LinkedIn: kima-ventures

Kima Ventures is a venture capital firm based in Paris, Île-De-France, France, founded in 2010. The firm specializes in investing in early-stage startups across various sectors, backing two startups per week with financial support and mentorship to help them navigate initial challenges. Among their notable transactions, Kima Ventures has invested in Impala, a TravelTech API service that raised significant funding in multiple rounds, including a Series A and Series B, aimed at enhancing competition in the travel sector. They also invested in Duffel, which raised $30 million in a Series B round, further emphasizing their involvement in the travel technology space. These transactions highlight Kima Ventures' commitment to supporting innovative solutions within the travel industry.

6. Index Ventures

• Website: indexventures.com
• Type: Venture Capital
• Headquarters: London, England, United Kingdom (UK)
• Founded year: 1996
• Headcount: 51-200
• Number of deals in 2024: 67
• LinkedIn: index-ventures

Index Ventures is a venture capital firm founded in 1996, based in London, England. The firm invests in innovative startups across various sectors, including technology and healthcare, providing capital and strategic support to entrepreneurs. Notably, Index Ventures has made significant investments in the travel agency sector, particularly in Secret Escapes, a British travel deals website. They participated in multiple funding rounds for Secret Escapes, including a Series B round of £8 million in 2012, a Series C round of $60 million in 2015, and a Series D round of $111 million in 2017. These investments were aimed at supporting the company's international expansion and growth in the luxury travel market. Additionally, Index Ventures invested in Trainline Europe, a platform that facilitates train ticketing across Europe, further highlighting their involvement in the travel industry. Their focus on building long-term partnerships with founders aligns with their strategy of driving success in the startups they support.

7. 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. With over €2.8 billion under management, HV Capital specializes in investing in digital companies and supporting entrepreneurs from seed stage to exit. They have a diverse portfolio that includes significant investments in the travel agency sector. Notably, they invested in DreamCheaper, which raised funds to enhance its marketing and expand into new markets, and OnlineTours, a Russia-based online travel agency that secured $7 million in a Series B round. Additionally, HV Capital has invested in FlixBus, a leading intercity bus service that has raised substantial funding in recent years, further demonstrating their engagement in the travel and transportation industry. This combination of investments highlights HV Capital's strategic interest in the travel sector, making them a relevant player in this space.

8. Portugal Ventures

• Website: portugalventures.pt
• Type: Venture Capital
• Headquarters: Porto, Porto, Portugal
• Founded year: 2012
• Headcount: 11-50
• Number of deals in 2024: 6
• LinkedIn: portugal-ventures

Portugal Ventures is a venture capital firm based in Porto, Portugal, founded in 2012. The firm specializes in investing in startups with global ambitions, primarily located in Portugal, and provides both capital and strategic support to help these startups grow and scale their operations. Portugal Ventures focuses on innovative projects across various sectors, including technology and health, but has also made significant investments in the travel and hospitality industry. Notable transactions include investments in 'Unlock Boutique Hotels' and 'Great Hotels of the World', both of which are key players in the travel sector. Additionally, they have invested in 'Live Electric Tours', which offers unique travel experiences. These investments highlight Portugal Ventures' commitment to fostering entrepreneurship in the travel industry alongside their broader investment strategy.

9. Accor

• Website: group.accor.com
• Type: Corporate
• Headquarters: Issy-Les-Moulineaux, Île-De-France, France
• Founded year: 1967
• Headcount: 10001+
• LinkedIn: accor

Accor is a leading hospitality group founded in 1967, headquartered in Issy-Les-Moulineaux, Île-De-France, France. With a workforce of over 10,000 employees, Accor operates a diverse portfolio of hotel brands and services, including accommodations, restaurants, and coworking spaces, catering to both leisure and business travelers. The company has made strategic acquisitions to strengthen its position in the travel agency context, such as the acquisition of Gekko Group, a major player in hotel booking for business clients, for €100 million. This move aims to enhance Accor's service offerings for business travelers. Additionally, Accor's acquisition of Onefinestay, often referred to as the 'Airbnb of luxury', for €148 million, positions them as a leader in the private property rental market combined with hotel services. These transactions reflect Accor's commitment to delivering quality service and innovative solutions in the hospitality and travel sectors.

10. Partech

• Website: partechpartners.com
• Type: Venture Capital
• Headquarters: Paris, Île-De-France, France
• Founded year: 1982
• Headcount: 51-200
• Number of deals in 2024: 24
• LinkedIn: partech

Partech Partners is a venture capital firm founded in 1982, based in Paris, Île-De-France, France. The firm specializes in providing funding and strategic support to startups across various sectors, with a strong focus on technology. Partech operates globally and has a diverse portfolio of companies. Notably, they have made significant investments in the travel agency sector, including a €15M investment in PerfectStay, a B2B tour operator, and a €70M investment in Evaneos, a French travel marketplace. These investments highlight Partech's commitment to supporting innovative travel tech companies and their growth in international markets.

11. Permira

• Website: permira.com
• Type: Private Equity
• Headquarters: London, England, United Kingdom (UK)
• Founded year: 1985
• Headcount: 501-1000
• Number of deals in 2024: 8
• LinkedIn: permira

Permira is a London-based private equity firm founded in 1985, specializing in private equity and credit solutions. The firm partners with management teams and entrepreneurs to drive growth and create long-term value across various sectors, including technology, consumer, healthcare, and services. Notably, Permira has made significant investments in the travel agency sector, including the acquisition of a majority stake in the Spanish online travel agency eDreams in 2010 for a deal reportedly worth between €250 million and €300 million. Additionally, Permira has been involved in financing Love Holidays, further showcasing its commitment to the travel industry. The firm also participated in substantial funding rounds for FlixBus, a travel service provider, raising significant capital in both Series F and Series G rounds. These transactions highlight Permira's strategic focus on transforming businesses into market leaders, particularly within the travel sector.

12. Amadeus

• Website: amadeus.com
• Type: Corporate
• Headquarters: Madrid, Madrid, Spain
• Founded year: 1987
• Headcount: 10001+
• Number of deals in 2024: 3
• LinkedIn: amadeus

Amadeus IT Group, S.A., founded in 1987 and based in Madrid, Spain, is a leading travel technology provider that specializes in software solutions for the global travel and tourism industry. With a workforce of over 10,000 employees, Amadeus operates through a SaaS model, delivering integrated solutions that streamline operations for airlines, hotels, travel agencies, and other travel-related businesses. Notable transactions include the acquisition of Vacation.com for $57.3 million, which aimed to enhance Amadeus's relationships with traditional travel agencies and strengthen its presence in the U.S. online market. Additionally, the acquisition of Travel IMS in 2018 further solidified Amadeus's commitment to supporting travel agencies. The company has also invested in Busbud, which focuses on improving digital transformation in the intercity bus industry, showcasing its broader interest in enhancing travel services. Amadeus's strategic acquisitions, such as Pyton Communication Services, which specializes in online booking engines, highlight its dedication to enhancing offerings for travel agencies and improving operational efficiencies across the travel sector.

13. Ldc

• Website: ldc.co.uk
• Type: Private Equity
• Headquarters: London, England, United Kingdom (UK)
• Founded year: 1981
• Headcount: 51-200
• Number of deals in 2024: 15
• LinkedIn: ldc

Lloyds Development Capital (LDC) is a private equity firm based in London, England, founded in 1981. As part of Lloyds Banking Group, LDC specializes in providing growth capital and strategic support to mid-market businesses across various sectors. They focus on helping management teams achieve their growth ambitions through investment and advisory services, fostering long-term partnerships to drive business success. In the travel agency context, LDC has made several notable investments, including the acquisition of ATPI Limited in 2006 for approximately $71 million, and a stake in the online travel company Iglu Cruise in 2015. They also provided £6.5 million in equity funding to Blue Bay Travel in 2017, which aimed to enhance technology and expand its offerings. Furthermore, LDC acquired Neilson Holidays in 2018, further solidifying their commitment to the travel sector. These transactions highlight LDC's active role in supporting and growing travel-related businesses.

14. 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, while also maintaining a notable presence in the travel agency industry. TA Ventures has actively invested in travel-related companies, such as itravel, which raised $7,349,276 in a Series B round in April 2018 and $2,218,963 in a Series A round in December 2016. Additionally, they invested in Dreamlines, a prominent online travel agency, contributing $9,887,728 in a Series B round in May 2013 and $25,000,000 in a Series C round in November 2014. These transactions highlight TA Ventures' strategic support and capital provision to travel startups, showcasing their commitment to fostering growth in this sector.

15. 3i Group plc

• Website: 3i.com
• Type: Private Equity
• Headquarters: London, England, United Kingdom (UK)
• Founded year: 1945
• Headcount: 201-500
• Number of deals in 2024: 3
• LinkedIn: 3i-group-plc

3i Group plc is a London-based private equity and infrastructure investment firm founded in 1945. The firm specializes in providing capital and expertise to mid-market companies, focusing on sustainable growth. With a diverse portfolio and a strong international presence, 3i aims to create value for its stakeholders through strategic investments. Notably, 3i has made significant investments in the travel agency sector, including a $236 million investment in Audley Travel, which offers personalized travel experiences. In 2018, 3i acquired a majority stake in International Cruise & Excursions for $150 million, further expanding its footprint in the travel industry. Additionally, their investment in Vakantie Discounter, a travel agency, highlights their ongoing commitment to the sector. These transactions reflect 3i's strategy of investing in companies that can benefit from their expertise and support, particularly in the travel and tourism space.

Travel Agency Insights: Key Investors in Europe

Investor	Headquarter	Size	Founded	Deals 2024
Bpifrance French Tech Accélération	Paris, Île-De-France, France	1-10	2015	198
Crowdcube	London, England, United Kingdom (UK)	51-200	2010	3
Thomas Cook	London, England, United Kingdom (UK)	51-200	1841	0
HOWZAT Partners	Luxembourg	1-10	2006	2
Kima Ventures	Paris, Île-De-France, France	1-10	2010	50
Index Ventures	London, England, United Kingdom (UK)	51-200	1996	67
HV Capital	Flensburg, Schleswig-Holstein, Germany	11-50	2000	28
Portugal Ventures	Porto, Porto, Portugal	11-50	2012	6
Accor	Issy-Les-Moulineaux, Île-De-France, France	10001+	1967	0
Partech	Paris, Île-De-France, France	51-200	1982	24
Permira	London, England, United Kingdom (UK)	501-1000	1985	8
Amadeus	Madrid, Madrid, Spain	10001+	1987	3
Ldc	London, England, United Kingdom (UK)	51-200	1981	15
TA Ventures	Frankfurt, Hesse, Germany	11-50	2010	5
3i Group plc	London, England, United Kingdom (UK)	201-500	1945	3

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