The travel agency industry in Benelux thrives on the diverse needs of travelers, providing a range of services from personalized vacation planning to corporate travel management. This sector includes traditional travel agencies, online platforms, and specialized tour operators catering to various niches, such as adventure tourism, luxury getaways, and eco-friendly travel options. As technology continues to reshape travel experiences, agencies focus on innovation, integrating digital solutions like mobile apps and booking platforms to enhance customer convenience. With increasing demand for seamless travel experiences, the industry is evolving to meet the expectations of tech-savvy customers seeking flexibility and personalized offerings.


This list highlights 17 prominent investors in the travel agency industry, primarily comprising venture capital, private equity, and corporate players. Operating predominantly from major cities like Luxembourg City, Amsterdam, and Antwerp, these investors range in size from small firms managing fewer than ten employees to large corporations with thousands. Founded between 1910 and 2019, these investment entities have collectively participated in numerous transactions; notable investments in 2024 include tractions from firms such as Prosus Group and Triton Partners. Their active involvement reflects the industry's potential and opportunity for growth in the travel sector.


Top 17 Travel Agency Investors in Benelux


1. 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. They have a notable focus on the travel agency sector, having participated in multiple funding rounds for itravel, which raised a total of approximately $10 million across Series A and B rounds from 2016 to 2018, and otelz.com, which raised around $5.4 million in Series A and B rounds from 2015 to 2017. This involvement highlights their interest and expertise in the travel industry, particularly in digital platforms that facilitate travel services.


2. BCD Travel

  • Website: bcdtravel.com
  • Type: Corporate
  • Headquarters: Utrecht, Utrecht, Netherlands
  • Founded year: 2006
  • Headcount: 10001+
  • LinkedIn: bcd-travel

BCD Travel is a leading travel management company based in Utrecht, Netherlands, specializing in corporate travel solutions. Founded in 2006, the company offers a comprehensive range of services, including corporate travel management, meeting and event planning, and travel consulting. BCD Travel serves businesses and organizations across various industries, helping them streamline their travel processes and achieve cost savings while enhancing the travel experience for their employees. Notably, BCD Travel has made significant acquisitions to strengthen its position in the travel agency sector, including the acquisition of Rennies Travel in 2019, which expanded their footprint in the travel market. In 2020, they acquired the business travel and meetings & events activities of Ventura Spa in Italy, forming BCD Travel Italy, which further solidified their global growth strategy. Additionally, their investment in Skylark Travel highlights their interest in supporting innovative travel solutions. The acquisition of Ticket Biz in 2015 and Hitachi Travel Bureau in 2019 further exemplifies BCD Travel's commitment to enhancing their corporate travel management capabilities and expanding their international presence.


3. Cvc

  • Website: cvc.com
  • Type: Private Equity
  • Headquarters: Luxembourg
  • Founded year: 2005
  • Headcount: 1001-5000
  • Number of deals in 2024: 16
  • LinkedIn: cvc-capital-partners

CVC Capital Partners is a prominent investment firm founded in 2005, based in Luxembourg, specializing in private equity, credit, secondaries, and infrastructure. With approximately €193 billion in assets under management for over 1000 clients, including pension funds and institutional investors, CVC focuses on delivering sustainable value and growth through strategic investments. Notably, CVC has made significant strides in the travel agency sector, acquiring Etraveli, a leading online travel agency, for €508 million in 2017, aiming to expand its international presence. Additionally, CVC participated in a funding round for HappyEasyGo, an online travel agency, showcasing their commitment to supporting travel-related businesses. Furthermore, their acquisition of Shearings Holidays Ltd in 1996 highlights their long-standing interest in the travel industry, making them a relevant player in this space.


4. Prosus Group

  • Website: prosus.com
  • Type: Venture Capital
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 2019
  • Headcount: 10001+
  • Number of deals in 2024: 21
  • LinkedIn: prosus-group

Prosus Group is a global technology investor and operator based in Amsterdam, Netherlands, focused on enhancing everyday life through technology. Founded in 2019, the firm operates across various sectors, including online classifieds, food delivery, payments, and education technology, serving over two billion customers worldwide. Notably, Prosus has made significant investments in the travel agency sector, including a $330 million investment in MakeMyTrip.com in 2017, which is a leading online travel agency in India. Additionally, Prosus invested in ibibo Group, which plays a crucial role in the Indian hospitality sector. Most recently, Prosus announced its acquisition of Despegar.com, a prominent Latin American online travel agency, for $1.7 billion, further solidifying its strategy to enhance operations in high-growth sectors across Latin America. These transactions highlight Prosus's active involvement in the travel industry, alongside its broader investment portfolio.


5. Mangrove Capital Partners


Mangrove Capital Partners is a venture capital firm based in Luxembourg, founded in 2000, specializing in early-stage investments in innovative technology companies. They provide financial support and strategic guidance to entrepreneurs, particularly in sectors like digital health and education tech. Recently, they have made notable investments in the travel agency sector, particularly with Exoticca, a Barcelona-based tour operator. In July 2021, they participated in a $30M Series C funding round for Exoticca, which aimed to enhance technology and automate the booking process to improve travelers' experiences. Additionally, they led a $65M Series D funding round for Exoticca in July 2024, further solidifying their commitment to the travel industry. Their operations are primarily focused on Europe and Israel, where they actively seek to empower startups and foster growth in the tech ecosystem.


6. Triton Partners


Triton Partners is a private equity investment firm based in Luxembourg, founded in 1997. The firm specializes in private equity and credit investments in European mid-market businesses, focusing on sectors such as Business Services, Industrial Tech, and Healthcare. Triton partners with management teams to address challenges and drive growth by providing operational expertise and capital. Notably, Triton has made significant investments in the travel agency sector, including the acquisition of Sunweb Group, a leading European online tour operator with a turnover exceeding EUR 600 million, and the planned acquisition of Corendon Holiday Group's tour operating activities, which serves over 750,000 customers annually. These transactions highlight Triton's strategic interest in the travel industry and their capability to enhance the operational performance of travel-related businesses.


7. European Investment Bank (EIB)


The European Investment Bank (EIB) is a public entity based in Luxembourg, founded in 1958, that provides a range of financial services including loans, equity investments, guarantees, and advisory services aimed at supporting sustainable projects across various sectors. In 2024, EIB was involved in 99 investments, showcasing its active role in financing initiatives that promote growth and job creation. Notably, EIB has invested in several companies relevant to the travel agency context, such as FlixBus, which raised over $563 million in Series F funding, and Cabify, which secured $42 million in debt financing. Additionally, EIB provided funding to Bolt and Zunder, both of which are involved in transportation services. These transactions highlight EIB's commitment to supporting the travel and transportation sectors, making it a significant player in the travel agency investment landscape.


8. Ferrovial

  • Website: ferrovial.com
  • Type: Corporate
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 1952
  • Headcount: 10001+
  • Number of deals in 2024: 1
  • LinkedIn: ferrovial

Ferrovial is a corporate investor based in Amsterdam, Netherlands, founded in 1952. The company specializes in infrastructure and construction, providing services in highway construction, airport management, and energy solutions. Ferrovial has made significant investments in the travel sector, particularly through its acquisitions of major airports. Notable transactions include the acquisition of Bristol Airport, the largest airport in Southwest England, and the 95-year concession for Sydney Airport, Australia's largest airport, marking a substantial investment of €3.85 billion. Additionally, Ferrovial acquired 100% of Belfast City Airport for €49.3 million, further solidifying its position in the UK airport management sector. These strategic investments highlight Ferrovial's commitment to enhancing travel infrastructure and its relevance in the travel agency context.


9. Samsonite

  • Website: samsonite.com
  • Type: Corporate
  • Headquarters: Oudenaarde, Flanders, Belgium
  • Founded year: 1910
  • Headcount: 1001-5000
  • LinkedIn: samsonite

Samsonite International S.A., founded in 1910 and based in Oudenaarde, Flanders, Belgium, is a prominent corporate investor in the travel industry, primarily known for its high-quality luggage and travel accessories. The company has made significant acquisitions to enhance its portfolio and strengthen its presence in the travel market. Notable transactions include the acquisition of eBags.com for $105 million in 2017, which expanded their online retail capabilities in the travel sector. Additionally, they acquired Rolling Luggage for £15.75 million in 2015, aiming to enhance their multi-brand retail platform in the travel-retail market. Other acquisitions, such as Hartmann and High Sierra Sport Company, further demonstrate their commitment to providing a diverse range of travel solutions for both leisure and business travelers. Through these strategic investments, Samsonite continues to position itself as a leader in the travel accessories market.


10. Gimv

  • Website: gimv.com
  • Type: Venture Capital
  • Headquarters: Antwerp, Flanders, Belgium
  • Founded year: 1980
  • Headcount: 51-200
  • Number of deals in 2024: 8
  • LinkedIn: gimv

Gimv is a venture capital investment firm based in Antwerp, Flanders, Belgium, founded in 1980. The firm partners with innovative companies across various sectors, including Consumer, Healthcare, Life Sciences, Smart Industries, and Sustainable Cities. Gimv provides investment management and strategic support to help businesses grow sustainably. Notably, Gimv has made significant investments in the travel agency sector, including a 46% stake in the travel website Easyvoyage for EUR 31.6 million in 2009, and a Series A investment of over $20 million in Marco Vasco in 2013. These transactions highlight Gimv's commitment to supporting travel-related businesses, alongside their broader investment portfolio.


11. Axivate Capital

  • Website: axivate.com
  • Type: Venture Capital
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 2012
  • Headcount: 1-10
  • LinkedIn: axivate-capital

Axivate Capital is a venture capital firm based in Amsterdam, Netherlands, founded in 2012. The firm specializes in providing investment and consulting services to both innovative startups and established companies with growth potential across various sectors, including digital media, e-commerce, leisure, telecom, travel, and horeca. Notably, Axivate Capital has made significant investments in the travel sector, including Corendon Airlines, which raised funds in a private equity round in 2016, and GET-E, which raised nearly $2.5 million in a venture round in 2020. Additionally, they have invested in Mews, a company that provides hotel management software, further demonstrating their engagement in the travel and hospitality industry. Their approach emphasizes collaboration with entrepreneurs to optimize operations and achieve market leadership, making them a valuable partner for businesses in the travel sector.


12. Expon Capital

  • Website: exponcapital.com
  • Type: Venture Capital
  • Headquarters: Luxembourg
  • Founded year: 2015
  • Headcount: 1-10
  • Number of deals in 2024: 2
  • LinkedIn: exponcapital

Expon Capital is a venture capital firm based in Luxembourg, founded in 2015. The firm specializes in seed and scale-up funding for technology-driven startups and growth companies, with a strong emphasis on social impact and the development of the Luxembourg startup ecosystem. Expon Capital has been actively involved in the travel agency sector, notably through their investments in itravel, where they participated in multiple funding rounds, including Series A and Series B, raising significant amounts such as $7,349,276 in Series B on April 5, 2018, and $2,830,977 in Series A on May 3, 2017. Additionally, they have invested in Nannybag, a service that offers luggage storage solutions, which also caters to travelers. This diverse portfolio showcases Expon Capital's commitment to supporting innovative solutions in the travel industry.


13. VentureFriends

  • Website: venturefriends.vc
  • Type: Venture Capital
  • Headquarters: Netherlands
  • Founded year: 2016
  • Headcount: 1-10
  • Number of deals in 2024: 8
  • LinkedIn: venturefriends

VentureFriends is a venture capital firm based in the Netherlands, founded in 2016, that specializes in early-stage investments in startups. They provide financial backing and strategic support to ambitious founders, particularly in sectors like FinTech and PropTech. Notably, VentureFriends has been actively involved in the travel agency sector through their investments in Welcome Pickups, a startup focused on global travel transportation. They participated in several funding rounds for Welcome Pickups, including a Seed round in 2015, another Seed round in 2016, a Seed round in 2017, and a Series A round in 2019, totaling over €9 million in funding. This involvement demonstrates their interest and commitment to supporting innovative solutions in the travel industry, helping the company expand its geographical reach and enhance customer experience.


14. Market One Capital

  • Website: moc.vc
  • Type: Venture Capital
  • Headquarters: Luxembourg
  • Founded year: 2017
  • Headcount: 11-50
  • Number of deals in 2024: 7
  • LinkedIn: m1c

Market One Capital is a venture capital firm based in Luxembourg, founded in 2017. The firm specializes in investing in innovative startups across various sectors, including FinTech, HealthTech, and AgriTech. Notably, Market One Capital has made significant investments in the travel industry, including leading funding rounds for Welcome Pickups, a global travel transportation startup that raised €5.3M and €3.3M in previous rounds to expand its geographical reach and enhance customer experience. Additionally, they participated in funding for Arise Travel and Nautal, both of which are involved in the travel sector. This diverse portfolio showcases their commitment to supporting growth in the travel industry while also maintaining a broader investment strategy.


15. Sgh

  • Website: sghcapital.com
  • Type: Venture Capital
  • Headquarters: Luxembourg
  • Founded year: 2015
  • Headcount: 1-10
  • Number of deals in 2024: 3
  • LinkedIn: sghcapital

SGH Capital is a venture capital firm founded in 2015, based in Luxembourg, that specializes in investing in early and mid-stage disruptive companies across various sectors, including fintech and blockchain. They provide capital and strategic support to innovative businesses primarily in the US and western Europe, helping them to grow and succeed in competitive markets. Among their notable transactions, SGH Capital invested in WIJET, which raised $15 million in a Series B round in 2016, and OpenJet, which raised over $3.4 million in a Seed Round in 2016. These investments highlight their engagement in the travel industry, particularly in air transportation services, showcasing their potential relevance to travel agency investments.


16. PPF Group

  • Website: ppfgroup.nl
  • Type: Private Equity
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 1991
  • Headcount: 501-1000
  • Number of deals in 2024: 1
  • LinkedIn:

PPF Group is a diversified private equity firm based in Amsterdam, Netherlands, founded in 1991. The company operates across multiple sectors, including telecommunications, media, financial services, and biotechnology, providing innovative solutions to businesses and consumers. Notably, PPF Group has made significant investments in the travel industry, particularly through its involvement with Culture Trip, a London-based travel site that has raised over $103 million in funding across multiple rounds, including Series A, B, and C, with PPF Group leading the Series B round. Additionally, PPF Group has backed Flash Pack, a company specializing in boutique trips for solo travelers, showcasing their active role in the travel sector. These transactions highlight PPF Group's commitment to supporting and growing travel-related businesses.


17. Prime Ventures (VC)


Prime Ventures is a venture capital firm based in Amsterdam, Netherlands, founded in 1999. The firm specializes in backing technology leaders across Europe, providing funding and strategic support to startups and technology companies to help them scale their operations. Notably, Prime Ventures has participated in significant funding rounds for travel tech companies such as Holidu, which raised $73.2 million in Series E funding in October 2022, and $44.3 million in Series C funding in September 2019. Additionally, they led a seed round for Leavy.co, a travel app for millennials, which raised $14 million in November 2019. These transactions highlight Prime Ventures' commitment to supporting innovation in the travel sector, particularly in technology-driven solutions for travel booking and rental services.



Travel Agency Insights: Key Investors in Benelux


InvestorHeadquarterSizeFoundedDeals 2024
HOWZAT PartnersLuxembourg1-1020062
BCD TravelUtrecht, Utrecht, Netherlands10001+20060
CvcLuxembourg1001-5000200516
Prosus GroupAmsterdam, North Holland, Netherlands10001+201921
Mangrove Capital PartnersLuxembourg11-5020005
Triton PartnersLuxembourg201-50019976
European Investment Bank (EIB)Luxembourg1001-5000195899
FerrovialAmsterdam, North Holland, Netherlands10001+19521
SamsoniteOudenaarde, Flanders, Belgium1001-500019100
GimvAntwerp, Flanders, Belgium51-20019808
Axivate CapitalAmsterdam, North Holland, Netherlands1-1020120
Expon CapitalLuxembourg1-1020152
VentureFriendsNetherlands1-1020168
Market One CapitalLuxembourg11-5020177
SghLuxembourg1-1020153
PPF GroupAmsterdam, North Holland, Netherlands501-100019911
Prime Ventures (VC)Amsterdam, North Holland, Netherlands11-5019990


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