Stockholm, Sweden, 21 July, 2025 – Etraveli Group, a leading global flight technology platform, today 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 Booking.com, Radisson Hotel Group, and TUI.
Etraveli Group recently renewed its long-standing partnership with Booking.com through a new eight-year agreement. Originally launched in 2019, the collaboration integrates Etraveli Group’s advanced flight technology to power Booking.com’s 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.”
Blaine MacDougald, Partner and Co-Head of the Strategic Investments Group at KKR, said:
"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.”
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.”
About Etraveli Group:
Etraveli Group (ETG) is a global technology company headquartered in Sweden. The company specialises in delivering high-quality flight content through flexible technology solutions – empowering both consumers and the companies that serve them. Etraveli’s services span the full flight journey – from search to booking to fulfilment – offered via leading consumer brands such as Gotogate, Mytrip and Flightnetwork, as well as through global partnerships with Google Flights, Skyscanner, KAYAK, Booking.com and others. ETG also operates TripStack, an airline integration platform, and Flightmate (Flygresor.se), a leading flight metasearch engine. The Group encompasses a team of over 3,100 professionals, working across offices and tech hubs in Sweden, Greece, Poland, the UK, Canada, India and Uruguay. For more information, visit: www.etraveligroup.com
About CVC:
CVC is a leading global private markets manager with a network of 30 office locations throughout EMEA, the Americas, and Asia, with approximately €202 billion of assets under management. CVC has seven complementary strategies across private equity, secondaries, credit and infrastructure, for which CVC funds have secured commitments of over €260 billion from some of the world's leading pension funds and other institutional investors. Funds managed or advised by CVC’s private equity strategy are invested in approximately 140 companies worldwide, which have combined annual sales of over €168 billion and employ over 600,000 people. For further information about CVC please visit: https://www.cvc.com/. Follow us on LinkedIn.
About KKR:
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit, and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.
Tags: Lorne Somerville, CVC, Mathias Hedlund, Etraveli Group, Blaine MacDougald, KKR
