Clearwater advises Mayfair Equity Partners on its investment in BizAway

Transaction

Mayfair Equity Partners invests in BizAway

Buy-side

Undisclosed

Role

Adviser to Mayfair Equity Partners on its investment in BizAway

Sector

Consumer

Region

UK
Italy
Spain

We have advised Mayfair Equity Partners (Mayfair), a dedicated consumer and technology investor, on its investment in BizAway, an award-winning tech-enabled B2B travel management company headquartered in Italy.

Founded by Luca Carlucci and Flavio Del Bianco, BizAway combines a proprietary and intuitive travel management software platform with a 24/7 multilingual in-house customer service call centre. The company also provides white-label services to enterprise customers and, in April 2023, acquired the business travel division of Next Generation Travel.

Since 2015, BizAway has transformed from a two-person startup to a multi-office business serving more than 1,600 customers. The company’s innovative digital platform and commitment to customer service has enabled BizAway to achieve 100% annual revenue growth over the last three years. In 2022, the company became the first business travel management company to achieve B Corp certification, recognising its commitment to meeting high standards of social and environmental performance and accountability.

Mayfair will partner with BizAway’s founders and its team to accelerate growth across existing and new markets. Mayfair’s investment will also enable BizAway to design and implement new AI and data strategies as well as develop additional products and services that will help solve the challenges and frustrations experienced by corporate travellers. BizAway will also explore potential M&A opportunities.

Corporate travel can be a deeply frustrating experience. Legacy systems, processes, and behaviours all contribute to exasperation for travellers. Our proprietary software platform was created with our customers in mind, allowing them to quickly plan and book trips while significantly reducing costs. Our success is a result of our team’s dedication, drive, and capability to bring the best B2B travel management provider to the market, and I’m humbled by our incredible growth over the past decade. We still have ambitious plans and are excited to partner with Mayfair, a team with an impressive track record of rapidly scaling businesses, to transform the corporate travel experience.
Luca Carlucci, Co-Founder and CEO, BizAway

Anyone who has travelled for work understands the appeal of making business trips easier, quicker, and more reliable. Luca, Flavio, and their team recognised this need and developed an intuitive software platform and paired it with exceptional customer service, which has built a loyal base of repeat customers. While consumer travel has seen significant innovation to enhance the customer experience, corporate travel still lags behind and we’re excited to partner with BizAway in its mission to transform this trillion-dollar industry.
Yusuf Hoballah, Partner, Mayfair Equity Partners

We thoroughly enjoyed supporting Mayfair on their investment in BizAway, an exciting digital business that is disrupting the TMC industry across Europe. This is also our third transaction in the corporate travel sector in the last year, following both Diversity Travel (Primary Capital) and TAG (ECI Partners), demonstrating the continued attractiveness of corporate travel to institutional investors.
Christopher Jones, Managing Partner, Clearwater