Travel search group Momondo has captured a £5 million from Barclays Bank to arm its acquisition and expansion warchest.
The company behind metasearch site Momondo and deals publisher Cheapflights says the "revolving credit facility" will be used to fund its ongoing plans to launch in new markets and "move quickly to secure future acquisition".
The latest financial support comes two months after it released its first financial results for many years, with revenue across the group increasing by 29% year-on-year to £14.5 million for the first quarter of 2014, and EBITDA over the same period up by a third to £3.2 million.
It is forecasting revenue of around £50 million for 2014.
The company is also in the process of renewing its profile in the market after, as CEO Hugo Burge admits, the company deliberately took a back seat for a few years after acquiring Momondo from its Danish backers in May 2011.
This quiet period coincided with the likes of rival metasearch site Kayak getting acquired by Priceline for $1.8 billion in November 2012 and the ongoing growth of fellow UK site Skyscanner.
The company says after paying off its original debts accrued during the Momondo acquisition period it decided to work with Barclays to "put in place a new debt facility".
Piers Deppe, relationship director for Barclays’ technology, media and telecoms team, says:
"The company has a track record of making prudent acquisitions and has shown impressive growth in a number of global markets. We are fully behind its plans to continue to grow and maintain its position as one of the biggest names in the travel search market."