US private equity firm General Atlantic has become the majority owner of online travel booking platform Kiwi.com after investing an undisclosed sum.
Kiwi.com co-founders Oliver Dlouhý and Jozef Képesi, who set up the company in the Czech Republic in 2012 to sell value airline tickets, will remain significant shareholders and continue to drive strategic growth plans.
Kiwi.com was recognised as the fastest-growing Czech start-up by Forbes Magazine in 2017 and 2018.
The founders pioneered technology that matches passengers to multiple carriers and flights on single itineraries.
Dlouhý said: "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.
"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 managing director Tanzeen Syed 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."
General Atlantic managing director Chris Caulkin added: "Kiwi is certainly at the forefront of technology solutions that are bringing significant value to travellers, airlines, and metasearch platforms alike."
