Great Hill Partners invests €100 million in the company to help it grow – and take it over.

Momondo Group, a travel meta search and discovery platform, has announced thatGreat Hill Partners invested €100 million in the company to help it expand and grow. The money is partly a takeover: The valuation is said to be €166 million, which means that the U.S. private equity group will become Momondo’s major shareholder. However, the existing senior management team will stay in place, with Hugo Burge remaining as CEO – and retaining a significant minority stake in Momondo Group.

“As a business, Momondo Group has expanded rapidly over the last two years and is well-positioned to capitalise on the growth in the meta travel sector,” Burge said in a statement.

“After a robust process we are pleased to be working closely with an investor who understands our culture and shares our vision – in a partnership which we believe represents the best outcome for our diverse range of stakeholders and investors.”

Momondo, which started in 2006 in Copenhagen, has seen rapid growth. Initially its base was in Scandinavia and Russian markets. Its technology and market share made it attractive for other startups in the travel space, and in 2011, Momondo was acquired by British Cheapflight. With the acquisition, Cheapflight rebranded parts of its services to Momondo, as well as kept the original Momondo team, who are still based in Copenhagen. Today Momondo has over 100 employees based in the city.

The company also has a strong product pipeline. Its flight search app is already one of the most popular travel apps for iOS and Android.

Momondo Group reportedly generated revenues of almost €55 million last year, with stronger numbers indicated so far this year. The business also reported €4 million in earnings before interest, tax, depreciation and amortisation in 2013. The company has over 19 million visits each month to its websites from 30 countries.

Great Hill Partners is a Boston-based private equity firm investing in medium-sized enterprises operating in high growth industries such as media, communications, internet, business services, user services, financial technology, healthcare technology, software and operations.

You can read more at The Telegraph, TrendsOnline, or the official press release.

This post was originally published on Øresund Startups.