India’s Ixigo Moves to Europe with Its First Overseas Acquisition

India’s online travel agency, Ixigo, has taken a big step toward international expansion by approving binding agreements to acquire a 60 percent ownership stake in Spain’s second-largest rail booking platform, Online Travel Solutions, for €11.70 million ($14 million).

About the deal

This transaction represents the company’s first major acquisition outside India and will officially establish its presence in the European travel market.

Once the transaction is finalized, the platform’s consumer brand Trenes will operate as a step-down subsidiary of Ixigo. The agreement also provides Ixigo with a contractual option to acquire the remaining shares in the future if certain performance and contractual conditions are satisfied.

According to Ixigo, the goal is to accelerate product innovation, modernize the platform using AI technologies, and enhance the overall customer experience to unlock new growth opportunities across European rail travel.

About Trenes and its current market position

Founded in 2013, the Trenes platform focuses on online train ticket distribution across Spain and selected parts of Southern Europe. It integrates with multiple national and cross-border rail operators, enabling travelers to compare routes and purchase journeys that involve more than one train provider within a single booking flow.

Recent financial disclosures show that the platform generated approximately €5.5 million ($6.5 million) in revenue in 2025, along with a net profit of around €1.35 million ($1.6 million). These figures likely contributed to Ixigo’s decision to pursue the acquisition.

Leveraging Ixigo’s expertise in rail technology

Ixigo has built its reputation in India primarily through its strong focus on railway travelers, offering search and booking tools tailored specifically to train journeys. Its ecosystem includes features such as price prediction algorithms, trip planning tools, and automated customer service systems designed to simplify rail travel decision-making.

The company believes these technological capabilities can be successfully adapted to European rail networks. By applying its experience from the Indian market, Ixigo expects to accelerate Trenes’ product development roadmap and deliver a more advanced user experience for European customers.

Additional investment in an AI-focused technology firm

Alongside the Trenes acquisition, Ixigo also announced the purchase of a 45.02 percent stake in early-stage AI-driven company Squad As Service (Sqaas) for approximately €0.45 million ($0.53 million). Following completion, Sqaas will become an associate company within Ixigo’s corporate structure.

The investment indicates Ixigo’s broader strategy to strengthen its technological capabilities, particularly in areas related to automation, product innovation, and scalable digital infrastructure.

Latest funding and long-term growth strategy

In October 2025, Ixigo secured $146 million in funding from Netherlands-based technology investor Prosus, which acquired a 10.1 percent stake through its venture capital arm MIH Investments One. This capital raise followed Ixigo’s public listing on the National Stock Exchange of India and the Bombay Stock Exchange in June 2024, marking a major milestone in the company’s growth trajectory.

Up to 25 percent of the newly raised capital, approximately $36.5 million, is planned for investment in organic growth initiatives. These include developing new AI-driven platforms, expanding cloud infrastructure, enhancing product capabilities, and strengthening marketing efforts.

Photo by Dmitrii E. on Unsplash