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Etraveli Group broadens shareholder base with KKR

KKR joins CVC as minority investor in Etraveli Group, supporting global expansion of its AI-powered B2B flight technology and fintech solutions. STOCKHOLM, SWDEN – Etraveli Group, a leading global flight technology platform, welcomes KKR as a significant minority investor alongside CVC Capital Partners, who originally acquired the company in 2017. The strategic partnership between CVC and KKR marks the beginning of an exciting new chapter for Etraveli Group and reinforces its position as the world's largest flight intermediary and fulfilment company outside of China. Financial details of the transaction have not been disclosed. Headquartered in Stockholm, Sweden, Etraveli Group operates a sophisticated Flight Tech Platform that delivers airline tickets to nearly 50 million travellers annually across 75 markets. With a mission to offer the broadest range of high-quality air content – easy to book and competitively priced – the company leverages AI-driven technology, deep industry expertise, and strong strategic partnerships. Its services are delivered through its own consumer-facing brands such as Gotogate, Mytrip,and Flightnetwork, as well as through its booking and fulfilment solutions for global partners like Radisson Hotel Group, and TUI. Etraveli Group recently renewed its long-standing partnership with through a new eight-year agreement. Originally launched in 2019, the collaboration integrates Etraveli Group's advanced flight technology to power global flight offerings. This renewed commitment underscores the enduring strength of the relationship and both companies' shared ambition to deliver greater choice, convenience, and value to travellers around the world. In another strategic development, Etraveli Group has launched a new Fintech division, debuting with Precision – an advanced risk management solution designed to combat fraud in the travel industry while supporting increased sales. Built on capabilities that have helped propel the company to its market-leading position, Precision is now being made available to airlines and travel agencies worldwide. KKR, a leading global investment firm with deep expertise across global travel and technology sectors, will work alongside CVC to support Etraveli Group in its continued global expansion. The two investors are joining forces to provide strategic expertise and global reach to guide the company through its next phase of growth. Mathias Hedlund, CEO at Etraveli Group, commented: 'This is another landmark moment for Etraveli Group. Welcoming a new investor in KKR strengthens our global position and marks the next chapter in our efforts to bring innovation and expertise to facilitate flight purchases for customers around the world. Together with CVC and KKR we look forward to accelerating the expansion of our global B2B Flight Tech Platform and continuing to deliver smart, seamless travel solutions together with our partners.' 'Etraveli Group has established itself as a clear global leader in flight technology with a unique platform, deep industry integration and a strong track record. We are pleased to partner with the Etraveli leadership team and CVC to deliver a tailored capital solution that will help support the Etraveli Group's continued expansion and innovation. This investment builds on KKR's commitment to backing European champions and contributing to the growth of high-quality, tech-enabled businesses.' said Blaine MacDougald, Partner and Co-Head of the Strategic Investments Group at KKR Lorne Somerville, Chairman of Etraveli Group and a Managing Partner of CVC, and Gustaf Martin-Löf, Partner, commented: 'Mathias and his team have built a world-leading e-commerce platform for flights and it has been an absolute pleasure to have supported them over the past eight years, delivering significant growth for Etraveli Group. We look forward to continuing our involvement with the business as a joint shareholder with our new partners at KKR and we're excited to embark on the next phase of the journey with the company.'