Mayfair pumps capital into travel management software platform BizAway | PE Hub

• BizAway has achieved 100% annual revenue growth over the last three years
• Mayfair will support BizAway to accelerate growth across existing and new markets
• Mayfair is a technology and consumer investor

Mayfair Equity Partners has made a €35 million investment in BizAway, a tech-enabled B2B travel management software company.

BizAway combines a proprietary and intuitive travel management software platform with 24/7 multilingual in-house customer service. It also provides a white-label software platform for enterprise customers and acquired the business travel division of Next Generation Travel in April 2023.

Since 2015, BizAway has transformed from a two-person startup to a multi-national business with over 1,600 customers. It has achieved 100 percent annual revenue growth over the last three years and has teams based across Europe, including Spain, Italy and Albania, and a branch in Dubai.

Mayfair will support BizAway to accelerate growth across existing and new markets, according to a release. It will also enable BizAway to design and implement new AI and data strategies and develop additional products and services that will help solve the challenges experienced by corporate travelers, the release said. It will also explore potential M&A opportunities.

“While consumer travel has seen significant innovation to enhance the customer experience, corporate travel still lags behind and we’re excited to partner with BizAway in their mission to transform this trillion-dollar industry,” said Yusuf Hoballah, partner at Mayfair, in a statement.

BizAway operates in a global market that is expected to reach $1.48 trillion by the end of 2024 and surpass $2 trillion by 2028, the release said.

Mayfair is a technology and consumer investor, with assets under management of over £2 billion.

Mayfair were advised on the transaction by Clearwater (corporate finance) and BizAway shareholders by Lazard (corporate finance).