Fri, 18/07/2014 - 06:27
Syntaxis Capital has completed its investment in eSKY, an online travel agent focused on Central Europe.
Founded in Poland in 2004, the company provides travel services to individuals, centred around the sales of airline tickets, for both traditional as well as low-cost carrier flights.
Its platform allows it to offer complex and interconnected bookings across its network shared with over 700 airlines globally.
eSKY has expanded to Bulgaria, Romania and Brazil.
Syntaxis has invested EUR11.5 million in the company, the bulk of which will be used to support and accelerate eSKY’s geographical expansion, and selectively pursue add-on acquisitions in Europe and Latin America. A small part of the investment was used to buy out one of the company’s minority investors.
Przemek Szczepanski, a partner at Syntaxis, says: “We are impressed with what eSKY has achieved. It has demonstrated its ability to successfully expand into new geographies, and we believe it is well-positioned to benefit from the many positive trends underpinning the growth of the global online travel industry.”
Piotr Stepniewski, co-founder and president of the board of eSKY, says: “We are pleased to be partnering with Syntaxis. They worked hard to understand our business, and they share our vision of what the company can achieve in the years ahead. The financing they have put in place further strengthens our competitive advantages, and will help us accelerate our entry into new markets.”
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