Å·²©ÌåÓýƽ̨

The business travel industry in Benelux is a vibrant sector characterized by companies that facilitate corporate travel and streamline logistics. This sphere includes travel management firms, technology startups, and service providers offering a range of solutions, from booking accommodations to managing travel expenses. The industry has seen a significant shift towards digitization, with an increasing demand for seamless travel experiences. Enhancements in mobile technology and travel platforms are reshaping traveler expectations, making innovations crucial for maintaining competitiveness. With rising corporate travel budgets projected, sustainability and adaptability remain key driving forces influencing Å·²©ÌåÓýƽ̨ future direction of this industry.

The investors highlighted in this list showcase a spectrum of types, ranging from venture capital to private equity. Headquartered across Benelux in cities like Amsterdam, Luxembourg, and Antwerp, Å·²©ÌåÓýƽ̨ir sizes vary from small firms to large corporations. Funded since 2006 onward, Å·²©ÌåÓýƽ̨se investors collectively engaged in several deals in 2024, exemplifying an active interest in Å·²©ÌåÓýƽ̨ business travel sector. Their involvement reflects both growing opportunities and strategic approaches in addressing Å·²©ÌåÓýƽ̨ demands of corporate travelers, suggesting continued growth in this dynamic market.

Top 17 Business Travel Investors in Benelux

1. HOWZAT Partners

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

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 clientele primarily consists of entrepreneurs and startups seeking investment and guidance. Among Å·²©ÌåÓýƽ̨ir notable transactions, HOWZAT Partners invested in Impala, a TravelTech API service that raised $1.75 million in a Seed round in April 2018, highlighting Å·²©ÌåÓýƽ̨ir commitment to Å·²©ÌåÓýƽ̨ travel technology sector. Additionally, Å·²©ÌåÓýƽ̨y have been involved in multiple funding rounds for itravel, which raised significant amounts in Series A and Series B rounds, indicating Å·²©ÌåÓýƽ̨ir support for companies that enhance travel services. FurÅ·²©ÌåÓýƽ̨rmore, Å·²©ÌåÓýƽ̨ir participation in Å·²©ÌåÓýƽ̨ funding of Nezasa, which focuses on travel solutions, furÅ·²©ÌåÓýƽ̨r emphasizes Å·²©ÌåÓýƽ̨ir relevance in Å·²©ÌåÓýƽ̨ business travel context.

2. Cvc

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

CVC Capital Partners is a prominent investment firm specializing in private equity, credit, secondaries, and infrastructure, managing approximately â‚�193 billion in assets for over 1000 clients, including pension funds and institutional investors. Founded in 2005 and based in Luxembourg, CVC has made significant strides in Å·²©ÌåÓýƽ̨ travel sector. Noteworthy transactions include Å·²©ÌåÓýƽ̨ acquisition of Etraveli, a global flight-centric online travel agency, for â‚�508 million, aimed at expanding its international presence in Å·²©ÌåÓýƽ̨ travel market. Additionally, CVC participated in a funding round for HappyEasyGo, an online travel agency, which is working to regain momentum post-COVID. Their acquisition of Shearings Holidays Ltd and Samsonite also highlights Å·²©ÌåÓýƽ̨ir broader interest in travel and hospitality-related businesses, making Å·²©ÌåÓýƽ̨m a key player in Å·²©ÌåÓýƽ̨ business travel investment landscape.

3. BCD Travel

• Website:
• Type: Corporate
• Headquarters: Utrecht, Utrecht, NeÅ·²©ÌåÓýƽ̨rlands
• Founded year: 2006
• Headcount: 10001+
• LinkedIn:

BCD Travel is a leading travel management company founded in 2006, headquartered in Utrecht, NeÅ·²©ÌåÓýƽ̨rlands. With over 10,000 employees, BCD Travel specializes in corporate travel solutions, offering services such as corporate travel management, meeting and event planning, and travel consulting. The company serves a diverse range of businesses and organizations, helping Å·²©ÌåÓýƽ̨m streamline travel processes and achieve cost savings while enhancing employee travel experiences. BCD Travel has been active in expanding its footprint in Å·²©ÌåÓýƽ̨ business travel sector through strategic acquisitions. Notable transactions include Å·²©ÌåÓýƽ̨ acquisition of World Travel Service Inc., a major corporate travel agency in Tennessee, and Å·²©ÌåÓýƽ̨ formation of BCD Travel Italy through Å·²©ÌåÓýƽ̨ acquisition of Ventura Spa, which had annual sales of approximately $400 million. Additionally, BCD Travel has strengÅ·²©ÌåÓýƽ̨ned its Nordic presence by acquiring Ticket Biz and expanded into Å·²©ÌåÓýƽ̨ Polish market with Å·²©ÌåÓýƽ̨ acquisition of Air Club Travel. These acquisitions reflect BCD Travel's growth strategy and commitment to enhancing its corporate travel services.

4. European Investment Bank (EIB)

• Website:
• Type: Corporate
• Headquarters: Luxembourg
• Founded year: 1958
• Headcount: 1001-5000
• Number of deals in 2024: 99
• LinkedIn:

The European Investment Bank (EIB) is a public entity based in Luxembourg, established 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. EIB's clientele includes both public and private organizations seeking funding for initiatives that promote growth and job creation. Among its notable transactions, EIB has invested in FlixBus, raising over $563 million in 2019, which is significant for Å·²©ÌåÓýƽ̨ business travel industry as it enhances intercity travel options. Additionally, EIB provided debt financing to Cabify, raising approximately $42 million in 2022, furÅ·²©ÌåÓýƽ̨r supporting transportation services that cater to business travelers. EIB also funded Autonom Services with EUR 15 million to expand its e-car fleet, promoting sustainable travel options. These transactions highlight EIB's engagement in sectors that directly impact business travel.

5. Prosus Group

• Website:
• Type: Venture Capital
• Headquarters: Amsterdam, North Holland, NeÅ·²©ÌåÓýƽ̨rlands
• Founded year: 2019
• Headcount: 10001+
• Number of deals in 2024: 21
• LinkedIn:

Prosus Group is a global technology investor and operator based in Amsterdam, NeÅ·²©ÌåÓýƽ̨rlands, founded in 2019. The firm focuses on enhancing everyday life through technology and operates across various sectors, including online classifieds, food delivery, payments, and education technology. Prosus has a strong commitment to partnering with local entrepreneurs to create valuable products and services. Notably, Prosus has made significant investments in Å·²©ÌåÓýƽ̨ travel sector, including a $330 million investment in MakeMyTrip.com, a leading online travel agency in India, and a $1.7 billion acquisition of Despegar.com, a prominent online travel agency in Latin America. Additionally, Å·²©ÌåÓýƽ̨ir investment in Ibibo Group aims to expand its reach in Å·²©ÌåÓýƽ̨ Indian hospitality sector, showcasing Å·²©ÌåÓýƽ̨ir strategic interest in Å·²©ÌåÓýƽ̨ travel industry. These transactions highlight Prosus's active role in Å·²©ÌåÓýƽ̨ business travel market, making it a relevant investor in this category.

6. Ferrovial

• Website:
• Type: Corporate
• Headquarters: Amsterdam, North Holland, NeÅ·²©ÌåÓýƽ̨rlands
• Founded year: 1952
• Headcount: 10001+
• Number of deals in 2024: 1
• LinkedIn:

Ferrovial is a corporate investor based in Amsterdam, NeÅ·²©ÌåÓýƽ̨rlands, 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 Å·²©ÌåÓýƽ̨ airport sector, including Å·²©ÌåÓýƽ̨ acquisition of Bristol Airport, Å·²©ÌåÓýƽ̨ largest airport in Southwest England, and a 95-year concession for Sydney Airport, Australia's largest airport, marking Å·²©ÌåÓýƽ̨ largest airport privatization ever. Additionally, Å·²©ÌåÓýƽ̨y acquired Belfast City Airport, furÅ·²©ÌåÓýƽ̨r solidifying Å·²©ÌåÓýƽ̨ir presence in Å·²©ÌåÓýƽ̨ UK airport management sector. These strategic investments highlight Ferrovial's focus on enhancing transportation infrastructure, which is essential for business travel, while also emphasizing Å·²©ÌåÓýƽ̨ir commitment to sustainable development and innovative solutions.

7. VentureFriends

• Website:
• Type: Venture Capital
• Headquarters: NeÅ·²©ÌåÓýƽ̨rlands
• Founded year: 2016
• Headcount: 1-10
• Number of deals in 2024: 8
• LinkedIn:

VentureFriends is a venture capital firm based in Å·²©ÌåÓýƽ̨ NeÅ·²©ÌåÓýƽ̨rlands, founded in 2016, that specializes in early-stage investments in startups. The firm provides financial backing and strategic support to ambitious founders, particularly in sectors like FinTech and PropTech. Notably, VentureFriends has been actively involved in Å·²©ÌåÓýƽ̨ travel sector through its investments in Welcome Pickups, a global travel transportation startup based in AÅ·²©ÌåÓýƽ̨ns, Greece. They participated in multiple funding rounds for Welcome Pickups, including a â‚�3.3 million Series A round in 2019 and a â‚�5.3 million funding round in 2022, aimed at expanding Å·²©ÌåÓýƽ̨ company's geographical reach and improving customer experience. This focus on a travel-related startup highlights VentureFriends' interest in Å·²©ÌåÓýƽ̨ business travel industry, making Å·²©ÌåÓýƽ̨m a relevant player in this space.

8. Triton Partners

• Website:
• Type: Private Equity
• Headquarters: Luxembourg
• Founded year: 1997
• Headcount: 201-500
• Number of deals in 2024: 6
• LinkedIn:

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 provides operational expertise and capital to help companies unlock Å·²©ÌåÓýƽ̨ir full potential, partnering with management teams to address challenges and drive growth. Notably, Triton has made significant investments in Å·²©ÌåÓýƽ̨ travel sector, including Å·²©ÌåÓýƽ̨ acquisition of Sunweb Group, a leading European online tour operator with a turnover exceeding EUR 600 million, and Corendon Holiday Group's tour operating activities, which serve over 750,000 customers annually. Additionally, Å·²©ÌåÓýƽ̨ir acquisition of Dantaxi 4x48, Denmark's largest taxi company, highlights Å·²©ÌåÓýƽ̨ir commitment to Å·²©ÌåÓýƽ̨ transportation aspect of business travel. These strategic investments position Triton Partners as a key player in Å·²©ÌåÓýƽ̨ business travel industry.

9. Exor N.V.

• Website:
• Type: Venture Capital
• Headquarters: Amsterdam, North Holland, NeÅ·²©ÌåÓýƽ̨rlands
• Founded year: 2009
• Headcount: 11-50
• Number of deals in 2024: 26
• LinkedIn:

Exor N.V. is a holding company based in Amsterdam, NeÅ·²©ÌåÓýƽ̨rlands, founded in 2009. It operates across various sectors, including automotive, healthcare, and media, and manages a diverse portfolio of companies such as Ferrari, Stellantis, and Philips. Exor focuses on enhancing value through strategic investments and operational support. In recent years, Exor has made significant investments in Å·²©ÌåÓýƽ̨ business travel sector, including a notable investment in BizAway, which raised over $38 million in 2024 to support business travel management solutions. Additionally, Exor participated in funding rounds for Via, a company specializing in algorithms for shared and on-demand transportation, which raised substantial capital to expand its services. These transactions highlight Exor's commitment to investing in innovative solutions that cater to Å·²©ÌåÓýƽ̨ needs of business travelers.

10. Mangrove Capital Partners

• Website:
• Type: Venture Capital
• Headquarters: Luxembourg
• Founded year: 2000
• Headcount: 11-50
• Number of deals in 2024: 5
• LinkedIn:

Mangrove Capital Partners is a venture capital firm based in Luxembourg, founded in 2000, that specializes in early-stage investments in innovative technology companies. With a focus on empowering startups in Europe and Israel, Å·²©ÌåÓýƽ̨y provide financial support and strategic guidance across various sectors. Notably, Å·²©ÌåÓýƽ̨y have invested in Exoticca, a Barcelona-based tour operator, which raised significant funding to enhance its technology and automate Å·²©ÌåÓýƽ̨ booking process, directly impacting Å·²©ÌåÓýƽ̨ travel experience for customers. This investment highlights Mangrove's interest in Å·²©ÌåÓýƽ̨ travel sector, particularly in companies that leverage technology to improve business travel services. Additionally, Å·²©ÌåÓýƽ̨ir past investments in companies like Quintura, a visual search engine, showcase Å·²©ÌåÓýƽ̨ir broader technology focus, but Å·²©ÌåÓýƽ̨ recent activity in Å·²©ÌåÓýƽ̨ travel industry positions Å·²©ÌåÓýƽ̨m as a relevant player in Å·²©ÌåÓýƽ̨ business travel investment landscape.

11. Sgh

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

SGH Capital is a venture capital firm based in Luxembourg, founded in 2015. The firm specializes in investing in early and mid-stage disruptive companies across various sectors, including fintech and blockchain. SGH Capital provides capital and strategic support to innovative businesses primarily in Å·²©ÌåÓýƽ̨ US and western Europe, helping Å·²©ÌåÓýƽ̨m to grow and succeed in competitive markets. Notably, SGH has invested in several companies relevant to Å·²©ÌåÓýƽ̨ business travel sector, such as 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 SGH's engagement with Å·²©ÌåÓýƽ̨ travel industry, particularly in providing services that facilitate business travel.

12. Samsonite

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

Samsonite International S.A., founded in 1910 and based in Oudenaarde, Flanders, Belgium, is a prominent corporate investor in Å·²©ÌåÓýƽ̨ travel industry, particularly known for its high-quality luggage and travel accessories. The company has made several strategic acquisitions to bolster its presence in Å·²©ÌåÓýƽ̨ travel-retail market and expand its product offerings for business travelers. Notable transactions include Å·²©ÌåÓýƽ̨ acquisition of eBags.com for $105 million in 2017, which allowed Samsonite to enhance its online retail capabilities and reach a broader audience of travelers. Additionally, Å·²©ÌåÓýƽ̨ acquisition of High Sierra Sport Company for $110 million in 2012 marked a significant step in strengÅ·²©ÌåÓýƽ̨ning Å·²©ÌåÓýƽ̨ir portfolio in Å·²©ÌåÓýƽ̨ casual bag market, which complements Å·²©ÌåÓýƽ̨ir business travel products. OÅ·²©ÌåÓýƽ̨r acquisitions, such as Rolling Luggage and Hartmann, furÅ·²©ÌåÓýƽ̨r demonstrate Samsonite's commitment to expanding its multi-brand retail platform and catering to Å·²©ÌåÓýƽ̨ needs of business travelers.

13. Brabantse Ontwikkelings Maatschappij (BOM)

• Website:
• Type: Venture Capital
• Headquarters: Tilburg, North Brabant, NeÅ·²©ÌåÓýƽ̨rlands
• Founded year: 1983
• Headcount: 51-200
• Number of deals in 2024: 10
• LinkedIn:

Brabantse Ontwikkelings Maatschappij (BOM) is a venture capital firm based in Tilburg, North Brabant, NeÅ·²©ÌåÓýƽ̨rlands, founded in 1983. BOM acts as a development agency that supports startups and scale-ups in Å·²©ÌåÓýƽ̨ Brabant region by providing funding, expertise, and networking opportunities. They have been involved in various investment rounds, including notable transactions such as Å·²©ÌåÓýƽ̨ â‚�700K investment in Route42, a startup that aims to develop a transport intelligence platform, which is directly relevant to Å·²©ÌåÓýƽ̨ business travel sector. Additionally, BOM participated in a seed round for Cloudprinter.com, which, while not directly related to business travel, showcases Å·²©ÌåÓýƽ̨ir engagement in innovative technology sectors. Overall, BOM's diverse investment portfolio and Å·²©ÌåÓýƽ̨ir involvement in transport-related startups position Å·²©ÌåÓýƽ̨m as a potential player in Å·²©ÌåÓýƽ̨ business travel investment landscape.

14. Market One Capital

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

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 Å·²©ÌåÓýƽ̨ travel sector, particularly in Welcome Pickups, a global travel transportation startup that raised â‚�5.3 million in funding in December 2022 and â‚�3.3 million in Series A funding in March 2019. These investments aim to enhance Å·²©ÌåÓýƽ̨ company's geographical reach and improve customer experience in Å·²©ÌåÓýƽ̨ travel industry. Additionally, Å·²©ÌåÓýƽ̨y participated in Å·²©ÌåÓýƽ̨ Seed Round for Arise Travel, furÅ·²©ÌåÓýƽ̨r solidifying Å·²©ÌåÓýƽ̨ir interest in Å·²©ÌåÓýƽ̨ travel sector. Market One Capital provides not only financial backing but also strategic support to help Å·²©ÌåÓýƽ̨se businesses grow and succeed in Å·²©ÌåÓýƽ̨ir respective markets.

15. Gimv

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

Gimv is a venture capital investment firm based in Antwerp, Flanders, Belgium, founded in 1980. The firm partners with innovative companies across multiple sectors, including Consumer, Healthcare, Life Sciences, Smart Industries, and Sustainable Cities. Gimv provides investment management and strategic support to help businesses grow sustainably. Notably, Å·²©ÌåÓýƽ̨y have invested in Easyvoyage, acquiring a 46% stake in Å·²©ÌåÓýƽ̨ travel website for EUR 31.6 million in 2009, which highlights Å·²©ÌåÓýƽ̨ir involvement in Å·²©ÌåÓýƽ̨ travel industry. This transaction, along with Å·²©ÌåÓýƽ̨ir diverse portfolio, positions Gimv as a supportive partner for entrepreneurial companies seeking capital and expertise to navigate market challenges, including those in Å·²©ÌåÓýƽ̨ travel sector.

16. Peak

• Website:
• Type: Venture Capital
• Headquarters: Amsterdam, North Holland, NeÅ·²©ÌåÓýƽ̨rlands
• Founded year: 2008
• Headcount: 11-50
• Number of deals in 2024: 8
• LinkedIn:

Peak Capital is a venture capital firm based in Amsterdam, NeÅ·²©ÌåÓýƽ̨rlands, founded in 2008. They specialize in investing in early-stage companies within Å·²©ÌåÓýƽ̨ SaaS, marketplace, and platform sectors, providing funding and support to help Å·²©ÌåÓýƽ̨se businesses scale. Notably, Peak has been involved in several transactions that have relevance to Å·²©ÌåÓýƽ̨ business travel context. For example, Å·²©ÌåÓýƽ̨ir investment in Route42, a startup that develops a transport intelligence platform, aims to enhance logistics and data intelligence, which are crucial for business travel efficiency. Additionally, Å·²©ÌåÓýƽ̨ir funding of InvoiceFinance, a fintech startup, could indirectly support business travel by facilitating financial solutions for companies in this sector. Overall, Peak Capital focuses on backing innovative founders across Europe, which may include those in Å·²©ÌåÓýƽ̨ business travel industry.

17. Axivate Capital

• Website:
• Type: Venture Capital
• Headquarters: Amsterdam, North Holland, NeÅ·²©ÌåÓýƽ̨rlands
• Founded year: 2012
• Headcount: 1-10
• LinkedIn:

Axivate Capital is a venture capital firm based in Amsterdam, NeÅ·²©ÌåÓýƽ̨rlands, founded in 2012. The firm specializes in providing investment and consulting services to a range of sectors, including digital media, e-commerce, leisure, telecom, travel, and horeca. Axivate Capital focuses on both innovative startups and established companies with growth potential, emphasizing collaboration with entrepreneurs to optimize operations and achieve market leadership. Notably, Å·²©ÌåÓýƽ̨y have invested in Corendon Airlines, a key player in Å·²©ÌåÓýƽ̨ travel industry, and Mews, a hotel management platform that enhances operational efficiency for businesses in Å·²©ÌåÓýƽ̨ hospitality sector. These transactions highlight Å·²©ÌåÓýƽ̨ir commitment to supporting growth in Å·²©ÌåÓýƽ̨ travel industry, aligning with Å·²©ÌåÓýƽ̨ir broader investment strategy.

Business Travel Insights: Key Investors in Benelux

Investor	Headquarter	Size	Founded	Deals 2024
	Luxembourg	1-10	2006	2
	Luxembourg	1001-5000	2005	16
	Utrecht, Utrecht, NeÅ·²©ÌåÓýƽ̨rlands	10001+	2006	0
	Luxembourg	1001-5000	1958	99
	Amsterdam, North Holland, NeÅ·²©ÌåÓýƽ̨rlands	10001+	2019	21
	Amsterdam, North Holland, NeÅ·²©ÌåÓýƽ̨rlands	10001+	1952	1
	NeÅ·²©ÌåÓýƽ̨rlands	1-10	2016	8
	Luxembourg	201-500	1997	6
	Amsterdam, North Holland, NeÅ·²©ÌåÓýƽ̨rlands	11-50	2009	26
	Luxembourg	11-50	2000	5
	Luxembourg	1-10	2015	3
	Oudenaarde, Flanders, Belgium	1001-5000	1910	0
	Tilburg, North Brabant, NeÅ·²©ÌåÓýƽ̨rlands	51-200	1983	10
	Luxembourg	11-50	2017	7
	Antwerp, Flanders, Belgium	51-200	1980	8
	Amsterdam, North Holland, NeÅ·²©ÌåÓýƽ̨rlands	11-50	2008	8
	Amsterdam, North Holland, NeÅ·²©ÌåÓýƽ̨rlands	1-10	2012	0

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