Travel agents

Cruise OTA Dreamlines gains €45m backing from investment firm

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Cruise OTA Dreamlines gains €45m backing from investment firm

Online travel agent Dreamlines’ has received €45 million funding from investment firm Princeville Global.

Felix Schneider, Dreamlines’ chief executive and founder, said having Princeville Global as partner would help “continued growth and international expansion”.

Princeville Global’s Emmanuel DeSousa will join the Dreamlines board as a result.

Since launching in 2012, Hamburg-based Dreamlines has expanded into 10 countries, partnering with more 100 cruise operators and offering the largest portfolio of cruises around the world.

Schneider said: “Our strong growth and European market leadership are an ideal base for further expansion.

“We’re excited to have Princeville Global as a new, experienced, and competent partner at our side to accomplish our vision.”

Emmanuel DeSousa, Princeville Global’s managing partner, said: “The cruise industry is the last sizable, global travel segment to be disrupted by a tech-focused online booking platform.

“Under the leadership of its visionary founders, Dreamlines is uniquely positioned to continue transforming the cruise industry to an online model, leading in Europe and expanding around the world.”

Dreamlines’ existing investors include Holtzbrinck Ventures, Target Global, Dimaventures, Hasso Plattner Ventures, TruVenturo and Global Founders.

Christian Saller, general partner at HV Holtzbrinck Ventures and Dreamlines chairman, said the addition of the agency’s latest investment partner would allow Dreamlines to continue its “success story”.

Princeville Global is an investment firm focused on backing rapidly-growing technology-related companies around the world.

Online UK cruise retailer Cruise.co.uk completed a deal to buy German cruise travel agency Kreuzfahrtberater (KFB) in a transaction totalling €25 million in 2017.

In February, Cruise.co.uk chief executive Seamus Conlon outlined plans to grow KFB, a rival of online giant Dreamlines, by 30% over the next year.

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