3mundi investment from Turenne Capital

Business travel optimisation specialist announces its first round of funding

3mundi facilitates business travel planning and optimizes business travel procurement. In less than five years, 3mundi has established itself as a serious alternative to traditional networks by combining high-performance technology tools and knowledge of its industry in ways that address the new demands of businesses and their travelers.

Present in France and in Switzerland, 3mundi employs a staff of 40 to serve its 300 corporate clients. Since inception, 3mundi has seen a steady rise in the number of new contracts signed and in fact leads its market in terms of growth (more than 100% per annum). Growth in 2012 is expected to be as dynamic as that of previous years, as new locations open in Europe and targeted acquisitions are completed.

To support its ongoing development, 3mundi decided to seek out an investor of the first rank. With the 2.1 m€ it raised – with Turenne Capital, via the local investment fund (FIP) managed by Turenne Capital Partenaires and Nord Capital Partenaires, organized by Financière Cambon – 3mundi’s leadership will be able to step up the execution of its strategy for achieving international growth.

“This capital boost gives us the means to achieve our goal of becoming the most credible alternative to large integrated networks,” noted 3mundi’s top executives, Simon Renaud and Jordy Staelen. “Our clients choose us because we offer top-notch service while enabling them to streamline business travel expenses for their organization. With Turenne’s support, we can step up our effort to recruit the industry’s leading business travel experts and consolidate our technological lead.”

According to François Picarle and Alexis de Maisonneuve of Turenne Capital, “although the global economic backdrop has deteriorated, the global economy requires all businesses to be global, regardless of their size. For this reason, we think the service offered by 3mundi is particularly relevant today, because it responds perfectly to market expectations: manage business travel at the lowest possible cost while ensuring optimal service quality. A business travel expert that is growing this rapidly is a rare thing and thus worth paying attention to. Given the energy and focus of its executive leadership and staff, we are very confident that 3mundi has what it takes to become a major player in the field of business travel.”