Momondo Group raises £80 million from Great Hill Partners
Big fund-raising deal alert: Momondo Group has taken a cash injection of £80 million (approximately $130 million) from Boston-based Great Hill Partners.
The company claims the investment, in a deal brokered by Arma Partners, values the brand at £132 million ($210 million).
The GHP private equity fund will take a majority stake (undisclosed) in the company and CEO Hugo Burge will stay on as CEO, alongside his existing senior management team.
Momondo says it has experienced "explosive growth" internationally as more than 85% of its overall revenues are generated from business outside of the UK, home to its original Cheapflights brand.