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Gimv, Iris Capital back travel agency Planetveo with €15m

18 Jun 2013

holiday travel beach_sqGimv and Iris Capital made a joint €15m investment in Paris-based online travel agency Planetveo, which posted an 83 per cent increase in revenues to €40m last year.

The two firms are joining existing investor Alven Capital, which will retain a significant stake in the firm.

Planetveo specialises in long-haul holiday packages to Asia, Africa, the Pacific region and America.

Iris Capital partner Erik de la Rivière said, “In an online travel market that is becoming increasingly mature and concentrated, the management of Planetveo has proven that the combination of an excellent internet presence and agility, quality offering and efficient sales organisation can transform the market.

“In just a few years time, Planetveo has become a major player in the highly attractive market segment of tailor-made holiday packages.

“We share the management’s vision and ambitions, which entail continuing the strategy of rapid growth and increasing market share to become a leading player in the sector. We are especially pleased to have the opportunity to participate and help in this exciting new growth phase.”

Gimv recently led a €40m investment in renewable energy supplier Lampiris.

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