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    Reference: 20190781
    Release date: 6 October 2021

    Promoter – Financial Intermediary




    TourRadar is an Austrian travel tech company that operates a global booking platform, marketplace and online travel agency for multi-day tours. The financing primarily supports expenditures in research and development (R&D) and market development. The project concerns the development of algorithms and machine learning capabilities to improve the ranking and searching accuracy of the platform, better customer profiling capabilities and enhanced customised suggestions for users. In addition, the project supports TourRadar in becoming mobile-first and improving functionality on mobile devices.

    Additionality and Impact

    The project supports the policy objective of support for SMEs, as well as innovation and digitalisation by providing tailored venture debt financing to an innovative start-up in the area of developing its online travel-booking platform and acting as a driver of digital innovation in the travel sector.
    The project entails positive knowledge spill-overs related to the development of algorithms and machine learning capabilities to improve the accuracy of ranking and searching, customer profiling techniques and enhanced customised suggestions for customers, strengthening the EU's position in innovative digital markets.
    EIB's financial contribution facilitates the SME's sustainable growth and helps to maintain its technological edge, despite the adverse economic conditions resulting from the COVID-19 outbreak. Furthermore, it provides a positive signalling effect to crowd-in further financing from private investors.


    The objectives of the EIB financing are to support the company to mitigate the impact from the COVID-19 pandemic and to execute its growth investments mainly in R&D and commercial expansion.


    Proposed EIB finance (Approximate amount)

    EUR 14 million

    Total cost (Approximate amount)

    EUR 17 million

    Environmental aspects

    The project activities do not fall under the Annexes I or II of the EU Directive2014/52/EU amending the EIA Directive 2011/92/EU. The project will be carried out in existing facilities, already authorised, that will not change their scope due to the project. As such, the project activities are not subject to a mandatory environmental impact assessment (EIA).


    The Promoter is a private company not operating in the utilities sector and not having the status of a contracting entity, and is thus not subject to EU rules on public procurement. Under these conditions, the procurement procedures followed by the Promoter are suitable for the project.


    Signed - 9/07/2021


    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
    They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Austria Services