Hogan Lovells advises on £128 million equity fundraising by Skyscanner
12 January 2016
London, 12 January 2016 – Hogan Lovells London-based corporate team has advised Goldman Sachs and Numis Securities in connection with Skyscanner's £128 million fundraising. The new investors include Baillie Gifford, Khazanah Nasional Berhadnd (the investment arm of the Malaysian government), Yahoo! Japan, Artemis and Vitruvian Partners.
The funds will be used by Skyscanner to accelerate the growth of the company through its search engine, which is already used by 50 million users each month, to gain a greater share of the £333 billion online travel booking sector.
Skyscanner was founded in 2003 by Gareth Williams, Bonamy Grimes and Barry Smith, as a search engine for airline tickets, and now employs around 800 people across offices in the UK, Singapore, Beijing, Shenzhen, Miami, Barcelona, Sofia and Budapest.
The Hogan Lovells team advising was led by London corporate partner Daniel Simons; with partner John Basnage, and associate Rhiannon Williams assisting.
Commenting on the transaction, Daniel said:
"It's less than a year since we met with our clients Goldman Sachs and Numis Securities to discuss a potential private fundraising by Skyscanner. With the successful completion of this transaction, we have helped our clients execute an exciting high profile transaction and, in doing so, have helped Skyscanner become one of the UK's most highly valued technology start-ups."