Fusion & Acquisition

💰 Combo, a French HR software company founded in 2016, after raising €40 million, acquires Arhia, a Saas payroll software, to revolutionize its offering for small businesses. The acquisition enables Combo to become the first all-in-one solution in France, benefiting sectors like hospitality, healthcare, and sports by serving over 12,000 businesses and franchises, impacting more than 100,000 employee users. Combo aims to improve productivity and client communication for accountants through a complete HRIS and payroll integration.

🍻 Bertrand Franchise has entered into a strategic partnership by taking a minority stake in Crêpe Touch, aiming to make it the leader in crêpes and waffles in France. The collaboration involves Olivier Bertrand, founder and president of Groupe Bertrand, Mickaël Lipari, founder of Crêpe Touch, and associate Grégory Clément, who joined in 2022 to support franchise development. This move is set to accelerate Crêpe Touch's growth across the country, innovating with a modern dine-in concept, leisure for children, and adaptable design for diverse needs. Bertrand Franchise currently operates 10 iconic brands nationwide.

🏨 Mews raised $75 million led by Tiger Global with participants Kinnevik, Battery Ventures, and Goldman Sachs Growth Equity. The funding aims to accelerate U.S. and DACH region expansion, enhance AI revenue management tools, and enable strategic acquisitions. In 2024, Mews saw over 50% year-over-year growth, processed over $10 billion in payments, and generated over $200 million in revenue. The company achieved a 20% market penetration in the DACH region, partnered with BWH Hotels, and acquired Atomize.

🏡 Raffles Sentosa Singapore inaugurates its first fully villa-composed resort on Sentosa Island, featuring a unique retreat with wellness, nature, and legendary service. Nestled in 100,000 square meters of tropical greenery, the luxury sanctuary signifies Raffles' brand expansion in Singapore. The exclusive 62-villa complex, designed by Yabu Pushelberg and managed by Cavaliere Giovanni Viterale, offers spacious rooms with private pools and terraces. Guests can enjoy a natural setting with Raffles' butler service, a spa, fitness center, and preferred green fees at Sentosa Golf Club. The resort includes five fine dining restaurants, such as Empire Grill and Iyasaka by Hashida, and promotes sustainability with the Sentosa Sling, an eco-friendly take on the classic Singapore Sling.

💻 Kleio, a startup founded in 2024, secures a €3 million seed funding round led by Serena and Daphni, supported by Houman Behzadi, Julien Bellanger, Raphael Simon, and Dave Kellogg. The funding aims to boost the adoption of AI and conversational interfaces in complex industries like Finance, Real Estate, and Travel. Kleio's technology, involving 30 generative AI agents, helped Havas Voyages increase online prospects by 200% and generate thousands of qualified leads in three months.

🌍 Arabian Adventures, a DMC leader in the United Arab Emirates, is expanding to Oman to meet the increasing demand from international partners for travel in 2025. With over 20 years of local expertise, the dnata Travel Group subsidiary offers bespoke high-end travel experiences, including VIP airport welcomes, private transfers, accommodation booking, and exclusive excursions with 24/7 assistance. Three new exclusive experiences have been crafted to cater to the evolving expectations of travelers.

💰 Eurazeo entered exclusive negotiations for a majority stake acquisition in Mapal from PSG Equity, with Mapal’s management team also investing. PSG Equity will retain a minority stake. The deal's completion is pending customary formalities and regulatory approvals. Mapal, headquartered in Madrid, serves over 2,000 clients in 40+ countries with AI-powered SaaS for restaurant and hospitality back-office processes. Financial details will be disclosed post-transaction. PSG Equity first invested in Mapal in September 2019, prompting growth acceleration.

📊 In the airline industry, only 25 out of 340 IATA-member airlines (7%) have invested in startups. A vast majority, 315 airlines (93%), have not engaged in startup investment to support innovation. Notably, KLM, through SHIFT Invest III in 2024, completed 9 deals with startups, while ANA executed 6 investments via its Future Frontier Fund established that same year. Climate technology leads as the top investment focus for airlines in 2024, followed by artificial intelligence.

💸 Flywire acquires Sertifi for $330 million, adding a new vertical in the travel sector focused on accommodation. This deal gives Flywire access to Sertifi's 20,000-property portfolio, including Marriott, Hilton, Hyatt, and luxury independents. Sertifi integrates with Oracle OPERA, Amadeus Delphi, and Salesforce, enhancing booking processes for hotel groups and events. Flywire anticipates an additional revenue of $35-40 million from Sertifi in 2025, though net margins are expected to be lower due to planned investments.