London-based online travel agency tops Profit Track 100
Loveholidays has topped a new list of the fastest growing company in Britain.
Founded in 2012 by chief executive Alex Francis, chief operating officer Jonny Marsh, and chief financial officer Chris McCavert, the company specialises in providing short and medium-haul beach holidays destinations including Crete, Majorca, and the Costa del Sol.
Its unique selling point is its proprietary ‘discovery search’ tech, which provides the functionality to select a holiday by cost, type of trip, and temperature as well as by location.
The nearly 300-strong company posted annual profit growth of 190.96 per cent, securing it the top spot. The company says it curates its search criteria using website analytics, as customers prefer not to be overwhelmed with options.
The company reportedly sold more than £500m worth of holidays in 2018, and has seen an average growth in profits of 191 per cent since 2015.
It has raised a total of £5m in funding over four rounds. Last year, the company sold a majority stake to private equity firm Livingbridge in a deal that valued the business at a reported £180m.
The company was followed on the list by fellow tech business Canterbury-based Halsion, in 6th place. The electrical and mechanical engineering company installed the UK Supreme Court’s data and security system as part of a larger engineering contract.
Other tech businesses on the list include digital marketing agency MiQ in 13th place and online cosmetics retailer BEAUTY BAY in 21st place.
In 2018 bed manufacturer and retailer Dreams was crowned winner, and payment processing services company Paymentsense took the top spot in 2017.