Draper B1, a Valencia-based leading VC, has announced the exit of its long-held stake in Traventia, the pioneering travel package company.
This move comes after a decade of ownership, during which Draper B1 played an active role on the board, representing the venture capital firm Sinensis and participating in multiple capital increases to strengthen its position.
Growth and success amidst challenges
Traventia, founded in 2013, has emerged as the leading real-time dynamic travel package portal, operating in four markets across southern Europe.
Despite the challenges posed by the COVID-19 pandemic, Traventia’s financial results have been impressive. In 2021, the company recorded sales of over €15 million, a figure that doubled in 2022, surpassing €30 million. The first half of 2023 has also seen strong growth for Traventia.
The exit of Traventia represents a significant milestone for Draper B1, with the company achieving a remarkable 9x multiple on its initial investment.
This exit adds to Draper B1’s impressive track record, which already boasts nearly a dozen divestments with substantial multiples throughout its history.
Enrique Penichet, a representative of Draper B1, expressed his satisfaction with the divestment, stating: “Traventia is a travel tech company that we witnessed being born in the accelerator, and after ten years of ownership, our cycle has come to an end. Traventia has shown continuous growth since its inception, COVID aside, and continues to demonstrate strong growth and profitability. They undoubtedly have a bright future ahead.”
Focusing on promising startups
This exit further solidifies Draper B1’s investment thesis and strategic approach, focusing on startups that efficiently generate value and deliver substantial returns with minimal capital.
Notably, Draper B1 continues to maintain an active presence in the market with investments in various companies, including Howlanders, which has shown robust growth in the post-COVID era.
Draper B1’s exit of its stake in Traventia follows a similar achievement last year when the company realized favorable returns from its investment in the travel tech company Civitfun.
With ongoing investments through its Fund III, primarily targeting B2B cloud service businesses, Draper B1 remains committed to supporting innovative ventures and fostering growth in the startup ecosystem.
