Mechelen, Belgium, 03 September 2021 – Rydoo, a leading international SaaS software solution for managing business travel and expense reports, today announced an investment from its new major shareholder Marlin Equity Partners (‘Marlin’). The global investment firm with over $7.6 billion of capital commitments under management acquired the majority shareholding.
The investment represents a very strong endorsement for Rydoo from a global investment firm with a proven track record of successful collaboration with similar companies in the software and technology space. With Marlin’s support, Rydoo will accelerate its global expansion with the ultimate objective to become a leading global player in the Travel and Expense (“T&E”) industry.
Details of acquisition
Rydoo, operating since 2018, offers end-users and finance managers an end-to-end solution to efficiently manage the travel and expense journey of employees within one single tool. The company’s two modules, Travel and Expense, cover the entire value chain of T&E management through one application. Rydoo aids companies around the world in digitizing and simplifying their travel and expense management processes and reinventing the way many companies currently operate today.
More than 10,000 customers, public and private organizations, in more than 150 countries already trust in Rydoo, including renowned brands, such as Burger King, Deloitte, Singapore Airlines, Veolia and many more. Rydoo’s customer base consists of over one million professional end-users worldwide that benefit daily from a seamless workflow and an improved employee experience.
We admire Rydoo’s strategic and innovative product offering, which solves for traditionally poor user experience in the B2B Travel & Expense market and delivers significant benefits to its customers,
“At Rydoo we aim to offer the most user-friendly Travel & Expense solutions to the corporate world and create a more efficient workflow combined with a better quality of life for employees,” said Sebastien Marchon, CEO of Rydoo. “We are very pleased to have found a new shareholder and partner in Marlin that supports our strategic goals and recognizes our value. With Marlin’s experience and expertise in scaling and growing businesses, we are well-equipped to strengthen our presence in the T&E market and expand our business even further. This is a new chapter in Rydoo’s history, and we look forward to the journey.”
“We admire Rydoo’s strategic and innovative product offering, which solves for traditionally poor user experience in the B2B Travel & Expense market and delivers significant benefits to its customers,” said Jeremy Nakache, a principal at Marlin. “We believe in the capability and vision of Rydoo’s management team, who is driving fantastic momentum and resilience in the business, despite extreme economic conditions. Further, we share Rydoo’s collaborative and high energy approach, which we believe will ensure our partnership is both financially and operationally successful.”
About Marlin Equity Partners
Marlin Equity Partners is a global investment firm with over $7.6 billion of capital under management. The firm is focused on providing corporate parents, shareholders and other stakeholders with tailored solutions that meet their business and liquidity needs. Marlin invests in businesses across multiple industries where its capital base, industry relationships and extensive network of operational resources significantly strengthen a company’s outlook and enhance value. Since its inception, Marlin, through its group of funds and related companies, has successfully completed over 185 acquisitions. The firm is headquartered in Los Angeles, California, with an additional office in London. For more information, please visit www.marlinequity.com.
Rydoo is a leading provider of expense and business travel management that reinvents and simplifies the process for high-growth companies. Rydoo has been recognised as one of the top two expenses management software providers for enterprises by G2 Crowd, the world’s leading business solution review platform. With a team of 250 enthusiastic employees, Rydoo operates in more than 150 countries. More than 10 000 customers and over 1 million users benefit from the usability and efficiency of its consumer-oriented app. For more information, please visit www.rydoo.com.