InnKap 4 Partners L.P. acquires stake in Paxport
Stockholm – 13 May 2011 – Paxport is a passenger management solution supplier for the charter leisure travel industry. Paxport’s main focus is to create a better travel experience for holiday charter passengers when they use a charter airline or a tour operator. Through this empowerment, high yield ancillary revenue streams are generated which has become an important financial component for the leisure travel industry.
Paxport enables the charter airline business to move as the banking industry has done, allowing the passenger to do more themselves while adding value to the booking process. This reduces cost and enables higher levels of utilisation & efficiency in the industry. Paxport’s product and service platform is proprietary and developed in house. The business model is based on an outsourcing or software as a service concept where Paxport becomes a strategic partner on a revenue share model. The risk to the customer, set up and fixed costs are minimal and their operational needs are managed by Paxport. Paxport also turns certain regulations into sales opportunities such as check-in and security requirements.
“We are very pleased to have InnKap 4 Partners as a new shareholder. We see no changes in our current strategy, but InnKap will add momentum and help us speed up the development to satisfy our customers’ needs”, says Patrick Lindblom, CEO at Paxport.
InnovationsKapital invests in Nordic technology companies with strong growth. “For InnKap 4 Partners, Paxport offers the opportunity to become an owner in a well managed growth company that is pioneering the market with its ancillary revenue platform for the leisure travel industry in Europe”, says Peder Holm, responsible for InnovationsKapital’s investment in Paxport.
For more information, please contact:
Patrick Lindblom, CEO, Paxport, +46 70 322 55 85, patrick.lindblom@paxport.se
Peder Holm, Investment Director, InnovationsKapital, +46 8 54 50 14 93,
+46 703 46 57 70, peder.holm@innkap.se
Johan Ran
Marketing & E-Commerce Manager
johan.ran@paxport.se
+46 8 594 309 80
Paxport has been active in the travel industry as a software and service provider since 1992, when its initial core business was consolidating passenger data for tour operators and leisure airlines. Today, Paxport has become a one stop shop for charter operations that opens the door to ancillary revenue streams. We are experts in passenger management solutions and offer a wide range of innovative products and services. Paxport provides services to more than 40 companies in the airline industry, processing well over 20 million passengers annually. We maximize efficiency by minimizing costs and operational hassle, and we create new opportunities for our customers to increase revenue.
For more information concerning the products and services of Paxport, please visit our website:
www.paxport.net or contact one of our Sales Departments