Scottish Equity Partners sees Skyscanner value soar with Sequoia Capital backing


plane 10_sqUS venture capital giant Sequoia Capital has bought a minority stake in Scottish flight search business Skyscanner which values the company at $800m.

The deal leaves Scottish Equity Partners as Skyscanner’s largest shareholder. SEP invested £2.5m in the company’s first outside funding round in 2008.

Skyscanner, which was founded in 2003, says it is the world’s second largest flight search company, with its website attracting more than 25 million unique users each month.

Sequoia chairman Michael Moritz will join the company’s board following the investment.

He said, “Skyscanner is one of the best technology companies ever to come out of Europe and is already a leading global player.

“Our job is to help take its current success a step further.”

Last December TNF Ventures and the corporate arm of Singaporean telecommunications company SingTel backed a $570,000 seed round for travel website Flocations.

The business, which aims to help short-haul travellers decide where to go, also received funding from angel investor Ben Ball.

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