Online travel site raises £2.2m

Saints Capital, the US secondaries firm, and Big Bang Ventures, a Belgian seed investor, has invested £2.2m into Travel Intelligence Group (TIG), a UK online company for luxury and boutique hotels.

The money will be used for acquisitions, to build the website, add to the TIG team, and develop its technology platform, Starfish Luxury Travel Distribution, which is also used by internet hotel sites such as Hip Hotels and Mr & Mrs Smith.

TIG was founded by a group of travel writers including AA Gill. Marin Muyser, founder of online hotel distributor, bought into the company in 2004 and is now CEO.

Muyser said: “I am very pleased with the support shown by new and existing investors of TIG. To raise equity in this market is an excellent endorsement of our achievements and strategy. We are looking to grow through acquisition and with cash now in the bank we are extremely well placed to pursue suitable opportunities.”

Saints Capital acquired a 40% stake in TIG following a sale by the original investors in May 2007.