Tag : News

Clipperton and Natixis Partners acted as financial advisors to Verlinvest, the international evergreen investment company, on its investment in HomeExchange. The investment will support HomeExchange as it scales its global platform and deepens its presence in existing markets, with a particular focus on North America and Western Europe. Clipperton also structured the debt financing for this transaction. 

About HomeExchange

  • Founded in 1992, HomeExchange was acquired in 2017 by Emmanuel Arnaud and Charles-Édouard Girard, co-founders of GuestToGuest (2011). Born from the merger, the platform connects 290,000 members across 155+ countries through 600,000 listings, offering authentic, affordable, and sustainable travel experiences.
  • HomeExchange operates on a unique GuestPoints system enabling both reciprocal and non-reciprocal exchanges, giving members maximum flexibility to travel on their own terms.
  • A certified B Corp™ since 2022, the company employs over 150 people across France, Croatia, Spain, and the United States. 
  • Led by CEO Emmanuel Arnaud and President Charles-Edouard Girard, HomeExchange has grown 40-50% annually in recent years, establishing itself as the reference platform for the global home exchange community through a strategy of organic growth and targeted acquisitions, including Love Home Swap in 2023.

Deal Rationale

  • The investment will support HomeExchange as it scales its global platform and deepens its presence in existing markets, with a particular focus on North America and Western Europe.
  • With its investment in HomeExchange, Verlinvest, a global, family-backed, consumer-focused evergreen investment firm, makes a meaningful addition to its portfolio of global, fast-growing companies. Ternel (Capital Croissance), a shareholder and impact investor since 2015, is renewing its commitment alongside the founders to support this new phase of growth. ISAI, a shareholder since 2021 that supported HomeExchange through its latest growth phase, is exiting its stake as the company enters this new chapter. Co-Founders and co-CEOs Emmanuel Arnaud and Charles-Édouard Girard remain at the helm, both increasing their shareholding as part of the transaction.
  • “Home exchanging has moved from a niche idea to a proven way to travel, and HomeExchange has led that movement from the very beginning. This investment lets us grow it even further. Verlinvest’s support gives us the resources and opportunity to accelerate our growth in the US and in Western Europe, allowing us to bring that experience to even more travelers while staying true to what has made HomeExchange successful”, stated Emmanuel Arnaud, CEO of HomeExchange.

Travel & Leisure Tech and the Shift from Venture Capital to Private Equity

Clipperton has structured major transactions in the Travel & Leisure sector since inception, experiencing particularly strong momentum in recent years with deals like Rouvy’s sale to Zwift, Skillcorner’s fundraise with Silversmith, Gymlib’s sale to EGYM, Wikiloc’s LBO with Miura Partners, Marietton’s OBO, CAPZA’s investment in Travelsoft, Click&Boat’s sale to Permira, and Musement’s sale to TUI Group. This sector expertise directly aligns with a broader trend highlighted in our report, The Journey from VC to PE: private equity has become a primary exit route for European tech, with buyouts now accounting for nearly a quarter of all venture-backed exits.

Deal Team Clipperton 

Deal Team Natixis Partners 

About Clipperton

Clipperton is a leading international investment bank dedicated to technology and growth companies, with offices in Paris, New York, Berlin, and Munich, as well as partnerships in the Netherlands, the UK, Switzerland, China, Italy, and Spain. We provide strategic and financial advisory services to entrepreneurs, corporates, and top-tier investors in Europe who are looking to execute strategic M&A, private equity, private placements, and debt financing transactions. Founded in 2003, we have completed over 500 deals with fast-growing technology businesses, blue-chip corporates, and renowned financial investors.