UAE’s ADIA Backs Flyr in $295M Capital Raise

UAE’s ADIA Leads Investment in Flyer’s $295 Million Capital Increase

The Abu Dhabi Investment Authority (ADIA) has been selected as one of the investors in US travel technology company Flyer’s $295 million capital increase.

ADIA Invests in Flyer’s $295 Million Capital Increase:

The $225 million Series D funding round was led by US investment firm WestCap, a wholly owned subsidiary of ADIA, along with BlackRock and Streamlined Ventures, who were also selected as lead investors, without disclosing financial details.

Vista Credit Partners Secures $70 Million Credit Facility:

Vista Credit Partners led an additional $70 million credit facility to expand its product offering globally.

Flyer’s Strategic Growth and Technology Advancements:

Flyer said the latest capital increase will allow the technology company to accelerate the delivery of modern reservation systems, improve digital channels, and enable AI-based decision automation for airlines and hotel brands, a move that comes after the company reported 290% year-on-year revenue growth.

ADIA’s Broader Investments in the Global Travel Sector:

Following this latest round, Flyer said it has raised more than $500 million to date, alongside other Series D investors including South American airline Avianca. WestCap founding managing partner Laurence A Tosi will also join Flyer’s board. ADIA’s recent investments in the travel sector include shares in Indian airline SpiceJet, which it bought on the open market in March, and then joined a consortium that made a conditional voluntary offer in May to acquire all of Malaysia’s Airports Holdings Berhad in a deal worth $3.9 billion.