- General Atlantic, a private equity firm, has agreed to acquire a minority stake in Travel Boutique Online (TBO), an online B2B travel distribution platform.
- Affirma Capital, an independent emerging market private equity firm connected to former senior leaders of Standard Chartered Private Equity, currently holds entities related to TBO and will continue to remain invested in the company.
- TBO, founded in 2006, simplifies the travel business for both travel suppliers and buyers. It offers access to a vast inventory of over 700 airlines and more than 1 million hotels in real-time.
- TBO serves more than 40,000 annual transacting buyers and operates in over 100 countries, indicating its global reach and market presence.
- In the fiscal year ending on March 31, 2023, TBO experienced significant growth, with a 2.17X increase in revenue, reaching Rs 1,051 crore, and a 4X increase in profits, reaching Rs 137 crore, compared to the previous fiscal year (FY22). This demonstrates strong financial performance and business expansion.