We are pleased to welcome Big Bang Ventures to the company. We are delighted that they have supported the fund raising. Despite the current challenging environment we believe TIG's strategy will ensure continued growth for the business.
London, UK (PRWEB) April 21, 2009
Travel Intelligence Group ('TIG'), the leading online presence for exclusive travel writing and luxury hotels, is pleased to announce closure of a £2.2M fund raising from private equity investors Saints Capital and Big Bang Ventures.
The funding is to be used to further develop its technology platform, accelerate growth through acquisitions, develop the website travelintelligence.com and recruit high level team members where appropriate.
In addition, Brent Hoberman, co-founder of Lastminute.com, has been appointed Chairman of the advisory board of TIG. He will advise on the acquisition strategy and help build the profile of the brand internationally.
Commenting on the announcement, Chief Executive Marin Muyser said:
"I am very pleased with the support shown by new and existing investors of TIG. To raise equity in this market is an excellent endorsement of our achievements and strategy. We are looking to grow through acquisition and with cash now in the bank we are extremely well placed to pursue suitable opportunities.
"I am also delighted to welcome Brent to our Advisory Board. His experience in buying companies and his network in the travel industry will be invaluable as we embark on growth through acquisitions.
Commenting on the fundraising, Ken Sawyer, Managing Director of Saints Capital said:
"We are pleased to welcome Big Bang Ventures to the company. We are delighted that they have supported the fund raising. Despite the current challenging environment we believe TIG's strategy will ensure continued growth for the business."
Barend van den Brande, Senior Partner of Big Bang Ventures (BBV) said:
"BBV are thrilled to be involved in TIG as the long term prospects for this business are very exciting. It is perfectly positioned to consolidate the luxury end of the online travel market."
About The Travel Intelligence Group
The Travel Intelligence Group (travelintelligence.com) is the leading online presence for luxury and boutique hotels, promoting over 3,500 hotels worldwide. Its subsidiary's technology platform, Starfish Luxury Travel Distribution, powers sites such as Hip Hotels and Mr &Mrs Smith.
TIG was originally founded by AA Gill and other well known travel writers. Current Chief Executive and part owner Marin Muyser bought into the business in 2004. Marin was co-founder of leading online hotel distributor booking.com now owned by Priceline, following its acquisition of the company in 2005 for $130M.