CarTrawler Expands Portfolio with Acquisition of Koala Insurance

Irish technology company CarTrawler has announced its acquisition of Koala, a Paris-based firm that specializes in travel insurance technology solutions. This strategic move allows CarTrawler to enter the rapidly evolving “insurtech” segment within the travel industry, enhancing its multi-product ancillary platform.

Founded to facilitate car rental and mobility solutions, CarTrawler is now expanding its offerings to include comprehensive travel insurance services. Koala operates with over 70 partners across 17 countries, providing both traditional travel insurance products and innovative tech solutions designed to streamline the insurance process for travelers.

Strategic Growth and Ambitions

The acquisition aligns with CarTrawler’s vision to become a leading multi-product ancillary platform for the global travel sector. Chief Executive Peter O’Donovan stated that acquiring Koala represents “a further step toward fulfilling our ambition” in this competitive market.

CarTrawler’s technology, particularly its Connect Platform, is already utilized by major players in the travel industry, including United Airlines, Air France KLM, Uber, American Airlines, easyJet, and American Express. The company’s headquarters is located in Dublin, where it employs a workforce of over 300 individuals.

Financial Performance and Future Outlook

During the fiscal year of 2023, CarTrawler generated a revenue of €172 million. The company reported an increase of over 20% in its earnings before interest, taxes, depreciation, and amortization (EBITDA) for the nine months ending June 30, 2023. This growth reflects a robust business momentum, a stable car rental pricing environment, and a healthy pipeline of new partnerships.

As CarTrawler continues to innovate and expand its services, the acquisition of Koala positions the company to capitalize on the increasing demand for integrated travel solutions. With a focus on enhancing customer experience through technology, CarTrawler aims to redefine the landscape of travel and insurance services.