LDC invests in travel software developer 15below

Mar 1, 2024 | News

LDC, a private equity investor which is part of Lloyds Banking Group, has invested in 15below, a specialist software developer, as part of a five-year growth strategy which will include investment and support to further develop proprietary technology to support existing and new clients. 

As part of the transaction, Ian Wheeler, who has held executive roles across the travel tech industry, will join 15below as Chair. LDC’s investment was led by Partner and Head of South Aylesh Patel and Investment Managers Josh Wachman and Francesca Speke; the former two will also join 15below’s board as Non-Executive Directors.

Get the week’s top news delivered directly to your inbox – Sign up for our newsletter
Sign up

15below was founded in 2000 by current CEO Nicholas Key and provides automated passenger communications for the travel industry. According to a press release, its proprietary software platform allows airlines to keep passengers informed throughout their journey, encompassing operational updates on travel itineraries, booking confirmations and boarding passes, pre-departure communications and real time updates on schedule changes and unplanned disruption.

The company is based in Brighton, UK and employs over 90 people across the UK, Australia, India, Germany and Turkey. Its software supports a global customer base of airlines, rail operators, travel agencies and travel management companies, including British Airways, Cathay Pacific, Etihad Airways and TUI. 15below also has strategic partnerships with global airline software systems providers Amadeus and Navitaire.

In a statement, Patel said: “The importance of technology in providing seamless, hassle-free communications to customers across sectors continues to increase, and this is particularly evident in the global travel industry which has bounced back significantly since the Covid-19 pandemic. Nick and the team at 15below are incredibly ambitious. They’ve not only developed a platform that meets this growing need but have cultivated a culture where talent can thrive and together this is fuelling the company’s growth.”

LDC has invested over £650m into more than 35 technology businesses since 2012. The firm’s current portfolio includes Uinsure, cloud-based technology platform; DSP, specialist database, cloud and applications managed service provider; and Sedex, a sustainability data and technology provider.

LDC was advised by PwC and 15below was advised by Clearwater International.

Soure: Private Equity Wire

Can’t stop reading? Read more