The France-based European e-travel business has completed the acquisition of Loco2, the fast-growing UK- based online rail travel booking start-up for the UK and Europe
The acquisition of Loco2, (loco2.com) is part of Voyages-sncf.com Group’s on-going growth strategy for the UK market and its wider European development aimed to make the Group the leader in train distribution in Europe in 2020. Recognising their talent and their technological capabilities the Group has decided to invest in Loco2 in order to enable their genuine customer-centric approach to flourish and grow.
Loco2 will complement the existing activities of the Group contributing to its ‘Smart Tourism’strategy working alongside the other Group’s brands.
Like any tech startup, Loco2 needed financing, but unlike many of their peers, Loco2 has never taken venture capital or private equity investment. Instead, they’ve relied on a relatively small group of friends, family and angel investors, including members of the Envestors Private Investor Network who share their vision for European rail. The Voyages-SNCF.com transaction has delivered healthy returns to shareholders.
Franck Gervais, General Manager of Voyages-sncf.com Group, said:
Kate Andrews, Co-founder of Loco2, comments:
Scott Haughton, COO Envestors, comments:
Voyages-sncf.com Group is a subsidiary of the French National Railway Company, SNCF and responsible for the online distribution of high-speed and conventional rail travel, through the Voyages-sncf.com brand in Europe and the Rail Europe brand in the rest of the world. An expert in European rail travel and destinations, the Group is recognised as a digital pioneer and leader in Smart Tourism. In 2016 the Group recorded a 3.5% increase in ticket sales, rising to 86 million tickets (up from 83 million tickets in 2015), with total sales reaching €4.1billion.