Visit Group
[Credit: Visit Group]

Travel software firm Visit Group finalises €100m+ raise

Sweden: Nordic-based hospitality and travel software company, Visit Group, has closed a €100 million-plus raise from growth equity firm PSG Equity [PSG].

In the process, PSG, which has previously backed the likes of Hostaway and Inhabit, has acquired a majority stake in Visit Group from Nordic tech investment firm Standout Capital. It also represents PSG’s first platform investment in Sweden and Norway, and its 24th investment to date in Europe.

Gothenburg-headquartered Visit Group provides collaborative commerce software to in-destination experience vendors, including lodgings [e.g. hotels and vacation rentals], day tours and attractions, mountain / ski resorts, ferry operators, theme parks, museums, DMOs [destination marketing organisations] and activity vendors. Its software solutions create an ecosystem that helps hospitality and travel providers to package, sell, distribute and deliver exceptional guest experiences.

As of last August, the group was serving more than 2,200 customers in over 25 countries.

Visit Group intends to use the strategic growth investment to accelerate both organic and inorganic growth across the Nordic region by broadening the range and depth of solutions offered to its customers.

Visit Group CEO James Dixon said: “As a product-led business with high ambitions to make a real difference in the development of the hospitality industry, we believe that we have found the right partner for both continuing to strengthen our offer, and to accelerate our growth in and outside the Nordics. I believe that we will get the best of both worlds with our product building DNA and PSG’s experience in areas like M&A and growth operations.”

Magnus Emilson, founder and executive chairman of Visit Group, said: “We’ve been in dialogues with several potential international partners for the next step in our growth journey. During this process, PSG has demonstrated some of the best understanding for what we are building, and we share the vision of the digital ecosystem for the hospitality industry.

“From the start, our customer-centric approach to innovation and our focus on building a scalable business with a good balance between growth and profitability have been our keys to success, and we aim to hang on to those values going forward,” he added.

Edward Hughes, managing director at PSG, said: “We’ve been closely monitoring this space for some time and have been impressed by Visit Group’s unique value proposition across the Nordics, underpinned by strong network effects which help enhance connectivity and synergies among all stakeholders in the hospitality ecosystem. We’re delighted to partner with Magnus and the team, bringing our sector expertise and experience to support them in achieving their mission of becoming one of the go-to software providers in European hospitality and travel.”

Houlihan Lokey acted as financial adviser to PSG Equity with MCF Corporate Finance acting as financial adviser to Visit Group.

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