Disrupting the travel industry: Why Partech is partnering with Evaneos?
By Bruno Crémel, General Partner at Partech
As the travel industry has been experiencing exciting changes and reshaping in the recent years, we, at Partech, have always been on the lookout for the most promising opportunities in the sector. In that regard, more than a year ago, we met two great visionaries, experts in their sector and inspiring entrepreneurs: Eric La Bonnardière and Yvan Wibaux, co-founders of Evaneos. From the beginning, we shared their vision of making medium-to-high-end travel experiences available to all, through a disruptive B2C marketplace connecting travelers directly to local Destination Management Companies (DMCs) to offer authentic and tailor-made multi-day tours.
Today, we are proud to announce that we will now continue building this dream together, as Partech Growth leads Evaneos’ €70m new funding round, along with George McCulloch from Level Equity and Quadrille Capital. This round, one of the highest amounts raised in French tech this year, will help Evaneos further expand its offer to even more travelers around the globe.
Evaneos is the clear leader on this market segment in France today, and the largest player in Europe. The company’s business model allows it to scale much faster than typical online travel agencies by simply adding DMCs to its network, thanks to a slick selection process and geography-specific sales team, thus building long-lasting relationships with local actors all over the world. Evaneos also leverages on a proprietary SaaS platform for DMCs which makes it possible to (i) standardize its offer, (ii) simplify processes on the DMC side by handling payments, multi-channel communication etc… and (iii) increase stickiness of the DMCs once they start using this software. On the travellers’ side, the scale of Evaneos also brings transparency through feedback from other customers on the DMCs, which removes the need for intermediaries (and corresponding fees) between the client and the local agent.
Not only did Evaneos develop this tremendous product, building from scratch a network of 1.300 local DMCs in the world and improving the travel experiences already of over 300,000 travellers. Eric and Yvan also assembled an impressive team, instilling a strong culture by encouraging thinking out of the box, and successful working methods.
We are proud to welcome Evaneos to the Partech family, and look forward to continuing the amazing journey they started together.