An American fund General Atlantic bought a majority share in Kiwi.com, a Brno based online travel agency start-up. The price of the transaction wasn’t specified, but according to estimates it should hit 130 million U.S. dollars.
The company was founded in 2012 and it was awarded the fastest growing start-up in Europe by Forbes in 2017 and 2018, as the sales of the company reached 1.36 billion U.S. dollars in 2018 only. The company is unique because only 1.4 million U.S. dollars have been invested in it so far, which is very low compared to other start-ups. Apart from that, the company has been able to create profits since the first year, which is almost unheard of at start-up scene.
General Altalntic is a major growth equity company, working with more than 150 professionals worldwide. In the 40 years of its existence it invested into more than 350 companies including Airbnb, Priceline, Flixbus and Uber. Therefore, the Kiwi.com founders believe that the partnership will enhance further growth.
Prepared by the team of foreign office CzechTrade Brussels