Nordic Travel Clearing, that has developed and operates the nordic travel industry’s largest payment platform, is becoming part of Nordtech Group (“Nordtech”). Nordtech is a software group focusing on acquiring and growing proven and profitable SaaS companies in the Nordic region.
Travel Clearing is somewhat of a hidden gem both in the travel industry and in the Swedish business community. Still, payments from thousands of companies and government agencies are processed through the company’s solution, making it the industry market leader.
Twenty years after being founded in 2002, the company is now being acquired by Nordtech Group. Nordtech acquires and develops Nordic software companies, and founders Pål Hodann and Nils Bergman have extensive experience in business acquisition and development. In addition to the founders, Nordtech has investors such as Nicklas Storåkers, former majority owner of Pricerunner, Åsa Risberg, former partner at EQT, Karl-Johan Persson, chairman of H&M, and Axis founder Martin Gren.
“Nordtech is exactly the kind of owner we’ve dreamed of,” says Andreas Brase, CEO and founder of Travel Clearing. “They understand what we do and share our vision, and they are not into micromanagement. At the same time, we become part of a group with both muscles, network and competence. And proven experience of growing companies like ours.”
In many ways, Travel Clearing’s system has revolutionized how payments are made in the Nordic travel industry and now they are expanding into europe.
“You could say that we make both travel expenses and credit cards unnecessary for business travel.”
“Payments to hotels and travel agencies are made so that every detail goes directly to the right place in the buyer’s business administration and accounts. All with one invoice. At the same time, the seller receives their payment directly.”
Travel Clearing currently has about 14,000 customers in Europe, and 30 people work at the company’s headquarters in Halmstad, Sweden.
“We think that the team at Travel Clearing has made an amazing journey and offers its customers a product that provides clear value to all stakeholders. We look forward to working together to continue developing and growing the company,” says Nils Bergman, partner at Nordtech.