Led · Equity · Jun 2021

Traveltek raised £1.3m in funding from funds managed by YFM Equity Partners with co-investor FTI LLP. Led by CEO Mal Barritt, the Glasgow-based company provides a technology platform that enables leisure travel companies to package hotels, flights, cruises and ancillary services into a single transaction. Its product suite includes iSell (dynamic packaging including cruise and tours itineraries), iBos (back-office systems with CRM, booking reports and documentation), a travel API that connects to hundreds of leading travel suppliers, and data insights. The company intends to use the funds to continue development of its product portfolio, aiming to create a dynamic, cloud-native booking platform with greater automation and new functionality. The investment will also support creation of skilled jobs, including software engineers and technical staff at its Glasgow headquarters, and enable expansion in the US. As part of the round, travel sector expert Phil Aird-Mash joined the board as chairman. Traveltek provides travel retailers, agents and wholesalers with technology that packages hotels, flights, cruises and ancillary travel services into a single transaction. The company’s platform enables dynamic packaging for travel agents, tour operators and wholesalers. Founded in 2002 and led by Managing Director Kenny Picken, Traveltek operates offices in Scotland, England, Australia and the US. The company intends to use new funding to further develop its product. It also plans to accelerate its international office expansion across the globe. The articles do not disclose operating metrics such as revenue or user counts.