The investment company General Atlantic is planning to pay an unknown price for a minority stake in the Indian online B2B travel distribution platform Travel Boutique Online (TBO).

According to reports, Affirma Capital-owned firms and General Atlantic entered into a contract for the transaction. After this purchase, Affirma Capital will keep holding shares of TBO.

Shantanu Rastogi, Managing Director and Head of India at General Atlantic says, “We are thrilled to work with the company to enable the next generation of international travel as we see enormous potential for TBO in the years to come, including prospects for global expansion.”

TBO, a global travel distribution platform established in 2006, had gross transaction values of $2.73 billion for FY23 and was present in more than 100 nations.

The TBO platform provides a comprehensive, multilingual, and multi-currency one-stop shop for customers.

Averaging over 40,000 purchasers every year, they have real-time access to the platform's global travel inventory, which includes more than 700 airlines and more than 1 million hotels.

Gaurav Bhatnagar and Ankush Nijhawan, cofounders, TBO says, “We are appreciative of Affirma Capital's tremendous assistance over the past five years, particularly during the Covid-19 pandemic. For this phase of our expansion journey, General Atlantic is what we consider to be the right partner.”

Udai Dhawan, founding partner and India Head at Affirma Capital says, “TBO is on the cusp of consolidating the travel technology landscape, and we continue to believe in its potential to aggregate and digitize travel for travel partners across the globe and are excited to continue to retain a significant minority stake in the business.”