Fund buys into Romanian, Polish online travel agencies with EUR 5 million
Private equity and venture capital fund manager 3TS Capital Partners has invested EUR 5 million in the online agencies Vola.ro and Fru.pl. The two companies, whose majority shareholder is the group Interactive Travel Holdings, have the same owners, including Romanian Daniel Truica.
The agencies will use the money to develop its online platforms. Vola.ro, which Truica and two Polish businessmen founded in 2007, initially sold only plane tickets. It has developed into an online platform for all kinds of travel-related services such as hotels, medical insurances, car rentals or city break holidays.
The agency has a EUR 20 million yearly turnover. 3TS Capital Partners has invested in several startups from Romania, including Universal Online Promotion, which holds the online retailer www.elefant.ro.
Booking website Vola.ro expands to Ukraine, eyes Russian market
editor@romania-insider.com
