Etraveli Welcomes KKR as Strategic Minority Shareholder in Partnership with CVC for Next-Phase Growth

Etraveli Welcomes KKR as Strategic Minority Shareholder in Partnership with CVC for Next-Phase Growth

(IN BRIEF) KKR is acquiring a significant minority stake in Etraveli Group, joining CVC Capital Partners to support the travel tech firm’s ongoing global expansion. Etraveli serves 50 million users annually through its AI-based flight platform and strategic partners like Booking.com and TUI. CVC, which acquired the company in 2017, remains a major shareholder. With over €15 billion in annual flight sales and quadrupled earnings since CVC’s acquisition, Etraveli is poised for further growth. KKR’s investment, through its Strategic Investments Group, will fuel innovation in fintech and B2B solutions. J.P. Morgan advised CVC in the deal.

(PRESS RELEASE) LUXEMBOURG, 21-Jul-2025 — /EuropaWire/ — CVC Capital Partners has announced that KKR will become a strategic minority investor in Etraveli Group, a move that signals a new phase of international growth for the global travel technology leader. While financial specifics were not revealed, the partnership underscores strong investor confidence in Etraveli’s continued momentum as the world’s top flight intermediary outside China.

Based in Stockholm, Sweden, Etraveli Group runs an advanced, AI-enabled Flight Tech Platform that facilitates ticketing services to 50 million travellers annually across 75 countries. The company offers a vast inventory of competitively priced airfares through both its own travel brands—Gotogate, Mytrip, and Flightnetwork—and white-label solutions for well-known partners including Booking.com, Radisson Hotel Group, and TUI.

Etraveli’s CEO Mathias Hedlund welcomed KKR’s entry, stating, “Bringing KKR on board marks a pivotal milestone in our growth story. Their expertise in technology and travel aligns with our ambition to expand globally and continue innovating flight fulfilment for consumers and partners alike. Together with CVC, we’re eager to scale our platform further and explore the next wave of fintech and B2B opportunities.”

CVC, which acquired Etraveli in 2017 from ProSiebenSat.1, has played a key role in transforming the company into a market leader in flight technology. Over the past eight years, the Group’s flight sales have climbed to over €15 billion annually, with earnings now four times higher than at the time of acquisition.

Lorne Somerville, Chair of Etraveli and Managing Partner at CVC, along with Gustaf Martin-Löf, Partner at CVC, commented: “It’s been a privilege to partner with Mathias and the team as they built a world-class platform. We’re proud of the tremendous progress made and look forward to working alongside KKR in this next chapter of innovation and growth.”

KKR’s investment is being made through its Strategic Investments Group, which specializes in crafting tailored capital partnerships and providing long-term support to high-performing businesses.

Blaine MacDougald, Partner and Co-Head of the Strategic Investments Group at KKR, remarked: “Etraveli is a standout in the global travel ecosystem. With deep sector integration and a powerful platform, we believe the company is ideally positioned to seize new growth opportunities. We are excited to back the leadership team and collaborate with CVC in driving its next phase.”

J.P. Morgan Securities Plc acted as exclusive financial adviser to CVC for the transaction.

Media Contact:

Patrick Humphris
Managing Director, Head of Corporate Affairs
CVC
Tel: +44 204 576 9526
phumphris@cvc.com

SOURCE: CVC