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Wingspire Capital Commits $30MM Term Loan, $15MM Revolver to Mondee

February 21, 2023, 08:00 AM
Filed Under: Travel & Leisure

Wingspire Capital committed a $30 million term loan A and a $15 million revolver to travel technology and marketplace firm Mondee, Inc., participating and adding to an existing loan facility led by TCW Asset Management Company.

The proceeds will be used to  fund general corporate business for the Austin, Texas-based company, including a disciplined and accretive M&A strategy.

Established in 2011, Mondee is a travel technology company and a modern travel marketplace with its headquarters based in Austin, Texas. The company operates 17 offices across the United States and Canada and has core operations in India, Thailand, and Greece.

Mondee is driving change in the leisure and corporate travel sectors through its broad array of innovative solutions. The company's platform processes over 50 million daily searches and generates a substantial transactional volume annually. Its network includes 55,000+ leisure travel advisors and gig economy workers, 500+ airlines, and over one million hotels and vacation rentals. The company also offers packaged solutions and ancillary offerings that serve a global customer base. On July 19, 2022, Mondee became publicly traded on the Nasdaq under the ticker symbol MOND.

“We are thrilled to be partnering with TCW on a multi-faceted financing structure that provides added flexibility to Mondee as it enters a new era of growth driven by pent-up demand for travel,” said David Gittleman, Head of Capital Markets at Wingspire Capital.

Wingspire Capital offers one-stop solutions of up to $200 million for middle market companies, including revolving lines of credit, cash flow loans, fixed asset term loans, first-out term loans & revolvers, equipment leases, and sale leasebacks.

“Wingspire Capital and TCW are terrific partners who worked with our senior leadership team to develop an enhanced capital structure so we can focus on running and growing the business,” said Prasad Gundumogula, Chairman, CEO and Founder of Mondee.

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