Direct Ferries brings new investor on board

Ferry aggregator Direct Ferries has landed an undisclosed funding round from ICG. 

Livingbridge, the founding Davies family and management have also contributed to the round.

Earlier this year speculation emerged that ICG and 3i were competing to acquire a significant stake in the business with £150 million the sum mentioned.

Direct Ferries declined to comment on the amount but in a statement said the "refinancing deal will support Direct Ferries' continued international growth strategy across its primary consumer business and fast-growing B2B and freight channels."

Niall Walsh, CEO of Direct Ferries, said: “The business has grown rapidly over the past three years, and we look forward to working with, and leveraging the experience of, a partner that supports our ambitious growth strategy and the management team to take the business to the next level.”

Mark Piasecki, managing director of ICG, said: "We see further growth in its core international consumer markets but also in its fast-growing B2B and freight channels underpinned by its strong technology and data science capability.” 

Direct Ferries said it sold more than 3 million tickets in 2022 from 4,000 routes in 200 end markets across the globe.