BBVA Delivers €10 million in Financing to Support BizAway’s Growth in Europe
BBVA has provided BizAway with €10 million in financing to support its acquisition of Dutch company Uniglobe Alliance Travel. The transaction will enable the scaleup to bolster its presence in Northern Europe, expand its customer base in the Benelux region, and move forward with its goal of becoming the leading corporate travel partner across the continent. The financing benefits from the support of the European Union and the European Investment Fund (EIF) under the InvestEU program.
Founded in Italy and Spain in 2015, BizAway operates in Europe and the Middle East and serves more than 2,000 companies. Its business model combines a proprietary technology platform that centralizes and simplifies corporate travel management with 24/7 in-house support to meet the needs of companies with increasingly international operations. This enables businesses to automate processes, improve cost control and manage their travel through a single platform.
BBVA’s financing will enable BizAway to continue pursuing an expansion strategy that combines organic growth with strategic acquisitions. The acquisition of Uniglobe Alliance Travel, a corporate travel specialist with a strong presence in the Netherlands, marks another step in this strategy and strengthens BizAway’s position in what is one of Northern Europe’s key markets.
“BizAway has many of the qualities we look for in the companies we support at BBVA: a strong team, a differentiated technology offering and a clear ambition to grow internationally. We are delighted to support the company’s expansion in Europe,” says Jan de Dreu, Head of Venture & Growth Lending Europe.
“We want to further strengthen BizAway’s position as the leading corporate travel partner in Europe. We have grown rapidly in recent years and see significant opportunities to ramp up that growth, both organically and through strategic acquisitions. BBVA’s support gives us the financial flexibility we need to execute this strategy and continue investing in our technology, our team, and the quality of service our customers expect from BizAway,” explains Luca Carlucci, CEO and co-founder of BizAway.
This latest transaction with BizAway is a further show of BBVA’s commitment to supporting European companies with financing solutions tailored to their needs, from organic growth and international expansion to strategic acquisitions.