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Intosol Holdings PLC

INTOSOL broker Hybridan hails peer Tourlane's fundraising as “great news” for luxury travel sector

Berlin-based Tourlane, which specialises in planning and booking customised trips, was backed in the funding round by venture capital funds Sequoia and Spark Capital

Money
Tourlane has raised US$81mln in just over 13 months

Hybridan, the corporate broker to luxury travel group INTOSOL Holdings PLC (LON:INTO), has hailed a US$47mln funding round by industry peer Tourlane as “great news” for the sector.

Berlin-based Tourlane, which specialises in planning and booking customised trips, was backed in the funding round by venture capital funds Sequoia and Spark Capital.

READ: INTOSOL targets more acquisitions, expansion beyond South Africa

Tourlane’s co-chief executive and co-founder, Julian Weselek, said the additional funds would help the company to strengthen its position in the market and allow it to continue its growth internationally.

The company, founded in 2016, has raised US$81mln in just over 13 months and employs more than 200 people.

Hybridan said that INTOSOL also had a rapidly growing client base in the sector as well as a range of luxury hotel properties, predominantly located in South Africa.

In lunchtime trading on Friday INTOSOL shares were steady at 35p.

Quick facts: Intosol Holdings PLC

Price: £0.40

Market: LSE
Market Cap: £5.29 m
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