KKR Takes Minority Stake in Flight Tech Firm Etraveli

KKR has acquired a minority stake in Etraveli Group, marking a significant new chapter for the Sweden-based flight technology company. The announcement, made by CVC Capital Partners, comes nearly two years after Booking Holdings’ failed attempt to acquire Etraveli following regulatory pushback from the European Commission.

Although financial terms were not disclosed, the investment is being made through funds managed by KKR’s Strategic Investments Group, which focuses on providing customized capital solutions to high-growth companies. J.P. Morgan Securities Plc acted as the exclusive financial advisor to CVC on the transaction.

Etraveli CEO Mathias Hedlund welcomed the partnership with KKR, praising the firm’s “strong track record” in both travel and technology sectors. He described the investment as a landmark milestone that strengthens Etraveli’s global footprint and supports its mission to innovate and simplify flight booking for travelers around the world.

CVC originally acquired Etraveli in 2017 from ProSiebenSat.1 through its technology and Nordic investment teams. Since then, the company’s earnings have quadrupled, according to CVC, which emphasized Etraveli’s strong positioning for long-term growth. The firm highlighted key drivers such as B2B opportunities, embedded fintech services, and the company’s deepening relationship with Booking.com.

That partnership with Booking.com, first established in 2019 and initially set to expire in 2028, was extended in June for another eight years. The extension signals continued confidence in Etraveli’s role as a core flight tech provider within the Booking Holdings ecosystem, despite the failed acquisition.

Blaine MacDougald, partner and co-head of KKR’s Strategic Investments Group, said Etraveli has established itself as a global leader in flight technology. He noted that the new investment reflects KKR’s commitment to supporting Europe’s high-performing tech-enabled businesses and scaling global champions.

Together with CVC and KKR, Etraveli plans to accelerate the expansion of its B2B flight technology platform. The company aims to deliver smarter, more seamless travel solutions in partnership with online travel agencies, financial institutions, and distribution platforms worldwide.

The deal underscores the growing investor interest in travel technology firms, especially those with strong performance histories and strategic industry partnerships. As global travel demand rebounds, companies like Etraveli are poised to benefit from renewed momentum, particularly in digital flight distribution and fintech-integrated services.

For Etraveli, the partnership with two heavyweight investment firms positions it for continued innovation, broader international reach, and long-term value creation across the competitive global travel technology landscape.

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KKR Takes Minority Stake in Flight Tech Firm Etraveli

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