Warburg Pincus has announced the acquisition of a controlling stake in VOLL, a corporate travel management platform based in Latin America. The investment, which exceeds $120 million, includes funding to help VOLL expand its artificial intelligence-driven solutions for managing business travel and expenses. Localiza, the previous majority stakeholder, will exit its controlling position as part of this deal.
VOLL’s leadership team—Luciano Brandão, Eduardo Vasconcellos, Luiz Moura, Jordana Souza, and Lucas Machado—will remain at the helm of the company. CEO Luciano Brandão commented on the development: “This recognition celebrates our pioneering spirit. We’ve embraced the challenge of leading the digital transformation of our industry with a deep sense of responsibility. We’re grateful to our clients, who have allowed us to learn and build the industry’s most advanced AI solutions, and to Localiza, whose partnership has fueled VOLL’s growth over the past three years. We’re ready and excited to shape the future of the corporate travel and expense market always guided by transparency, ethics, and an unwavering commitment to creating value for our clients.”
VOLL currently serves more than 850,000 users in various languages through its unified app that manages all aspects of corporate travel and expenses.
The transaction is expected to close during the first quarter of 2026. According to Warburg Pincus representatives, this move aligns with their strategy to invest in technology companies with scalable business models within fragmented markets.
Bruno Maimone, Managing Director and Head of Warburg Pincus’ Brazil office stated: “VOLL reflects Warburg Pincus’ strategy of investing in leading technology companies with scalable business models. The company drives measurable value and efficiency for enterprises through a differentiated AI-powered platform and strong fundamentals. We see significant growth potential in a highly fragmented market and are excited to partner with the founding team to accelerate VOLL’s next phase of growth.”
Ash Somani, Managing Director at Warburg Pincus added: “Brazil is still in the early stages of digital transformation, creating outsized opportunities for growth across multiple sectors and a highly favorable competitive environment for well-capitalized category leaders. Voll fits squarely with Warburg Pincus’s global strategy of backing scalable, high-growth businesses with strong unit economics and exceptional founding teams.”
VOLL provides services that allow companies—including clients such as Itaú, Cogna, XP Inc., Nubank, iFood, CPFL Energia, and Andrade Gutierrez—to manage booking flights as well as handling other trip-related expenses from one application.
More information about VOLL can be found at www.govoll.com.