TIG raises £2.2m
The boutique hotels website is backed by two VCs
Travel Intelligence Group (TIG), the luxury and boutique hotels website, has closed a £2.2m fundraising round.
The company is getting investment from two private equity investors, Saints Capital and Big Bang Ventures. The money is going to be used to ‘further develop its technology platform, accelerate growth through acquisitions, develop the website travelintelligence.com and recruit high level team members’. Also, the company has gained the support of Brent Hoberman who, along with Martha Lane Fox, co-founded Lastminute.com. He has been appointed chairman of TIG’s advisory board and will help the company with its international acquisition strategy and build its profile. “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,” said chief executive Marin Muyser. “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.” © Crimson Business Ltd. 2009