Oliver Dlouhý and Jozef Képesi to remain significant shareholders
General Atlantic, the global growth equity firm, has announced that it is to make a strategic investment in Kiwi.com.
“Thrilled” co-founders Oliver Dlouhý and Jozef Képesi will remain significant shareholders and continue to drive the company’s strategic growth plans in partnership with the firm. Terms of the deal have not been disclosed.
Drawing from nearly 40 years of experience investing in over 350 global growth companies, General Atlantic focuses on sectors that continue to be shaped by technology and innovation, developing and capitalising on disruptive themes.
General Atlantic’s past and current investments in the global online travel industry include Priceline, Airbnb, Meituan, Flixbus, Uber, Despegar, Smiles and Mafengwo.
“Deep expertise” will drive growth
“We are thrilled to partner with General Atlantic as we embark on our next phase of growth, seeking to bring optionality and value to our expanding customer base in an increasingly complex online travel market,” Dlouhý said.
“The firm’s deep expertise in the tech and travel sectors and track record of helping high-growth, category-disrupting companies achieve global scale will be hugely beneficial as we take Kiwi.com to the next level.”
General Atlantic was established in 1980. It works to provide a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to its partners. The firm has more than 150 investment professionals spread across the world.
Tanzeen Syed, Managing Director at General Atlantic, said: “In just six years, Oliver and the Kiwi.com team have profitably built one of the most disruptive and transformative technology platforms in the large and fragmented online travel industry.
“We look forward to supporting Oliver’s vision of creating a seamless and comprehensive travel experience for value conscious consumers worldwide.”
“Kiwi.com is at the forefront of technology solutions”
Chris Caulkin, Managing Director at General Atlantic, said: “We firmly believe that consumers increasingly demand differentiated services to meet their needs.
“Kiwi.com is certainly at the forefront of technology solutions that are bringing significant value to travellers, airlines, and metasearch platforms alike.”
Kiwi.com, a rapidly growing technology company, was founded in 2012 and was recognised as the fastest-growing European start-up by Forbes Magazine in 2017 and 2018.
Through its proprietary technology and algorithms, Kiwi.com has a unique ability to offer comprehensive flight options to value-conscious consumers.
The company pioneered technology that matches passengers to multiple carriers and flights on single itineraries, and partners with airlines, online travel agencies, and metasearch engines to sell more than €1bn in tickets across the globe.
Citi is acting as exclusive financial adviser to the company in connection to this transaction. CMS and DLA Piper are providing legal advice to Kiwi.com and its shareholders, and Weil, Gotshal & Manges is providing legal advice to General Atlantic.