CarTrawler, the Ireland-based global B2B car rental technology platform, has announced its acquisition of Koala, a Paris-based travel Insurtech company. This acquisition will help CarTrawler expand its range of travel-related services.
The announcement comes after CarTrawler reported strong financial results for the year ending in September 2024. The company earned €172 million in revenue, with an EBITDA of €23.3 million, reflecting a 2% increase. Additionally, CarTrawler saw a 14% year-on-year growth in car booking volumes, driven by continued organic growth and new commercial partnerships.
CarTrawler has continued to invest in its business, with €8 million allocated to research and development. This funding will enhance the company’s proprietary ‘Connect Platform’ and improve its artificial intelligence (AI) and data science capabilities. CarTrawler also reported a 20% year-on-year increase in earnings for its current financial year.
Peter O’Donovan, CarTrawler’s CEO, stated, “The demand for B2B travel solutions is growing, with partners asking us to add more products. The Koala acquisition helps us get closer to our goal of becoming the leading multi-product ancillary platform for the global travel industry. Koala’s focus on innovation and customer satisfaction makes them an ideal fit for us.”
CarTrawler operates a global network of over 2,200 car rental and mobility suppliers, with more than 50,000 locations across 150+ countries. The company powers ancillary revenue for over 250 travel brands and 70 airline partners. Recent new partnerships include American Airlines, Qantas, Jet2, Virgin Australia, and Finnair, further cementing CarTrawler’s position as a leader in ancillary revenue solutions for top travel brands.
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