TORONTO, June 21, 2022 (GLOBE NEWSWIRE) — Stack Capital Group Inc. (“Stack Capital”) (TSX: STCK and STCK.WT) is pleased to announce that it has invested $7 million USD into preferred shares of Omio, Inc. (“Omio” or the “Company”), a leading multi-modal travel platform that allows consumers in Europe, the United States, and Canada to easily book trains, buses, ferries, and flights – saving them both time and money. Stack Capital’s investment was part of the recently announced financing and was completed alongside fellow investors including Goldman Sachs, Lazard Asset Management, New Enterprise Associates (NEA), and Temasek Holdings, amongst others.
Omio has successfully built a travel platform that focuses on the underserved and highly fragmented ground and water transportation markets. Currently issuing travel tickets across 37 countries, in 21 different languages, and 26 different currencies, for 1000+ transportation providers, Omio has invested a considerable amount of time, energy and resources to build its innovative platform. Developing partnerships with a significant number of travel operators, gaining access to their inventories, and integrating into the Omio platform has been a challenging endeavor. Today, however, Omio is the beneficiary of that process, which now serves as a significant moat protecting its business from the competition.
“Targeting the ground and water transportation segments of travel differentiates Omio from virtually all of its peers,” said Jeff Parks, CEO of Stack Capital. “As global travel continues to accelerate post-pandemic, Omio is rebounding faster than several of the largest travel platforms in the world. We’re very excited about the future outlook for Omio given its ability to grow organically, expand globally through acquisition, in addition to leveraging its API by making it available to third parties.”
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