UK/INTERNATIONAL. Dragonpass has acquired digital vouchering and passenger experience specialist iCoupon Global, bringing together two fast-growing businesses with extensive reach across the airport, airline and travel retail sectors.
The acquisition combines Dragonpass’s global travel and lifestyle platform, which serves more than 34 million members worldwide, with iCoupon’s technology network spanning 200 airlines, 4,000 retail units and more than 400 airports across 56 countries.
Financial terms were not disclosed.
Strategic fit
The deal significantly broadens Dragonpass’s proposition beyond its established airport lounge business, adding iCoupon’s technology and extensive airline, airport and retail connectivity to a portfolio that includes Fast Track, airport dining, concierge, wellness and other travel services.
For iCoupon, the acquisition provides access to Dragonpass’s global client base and travel services portfolio, opening the way for those capabilities to be delivered through the iCoupon ecosystem.
The companies have worked together for around a decade, with their respective technologies and services already integrated.
Writing on LinkedIn, iCoupon CEO & Chairman Richard Bye said the company had not been seeking simply an owner but a partner capable of accelerating its development.
“As proud as we are of what we’ve built, we’ve always known the opportunity was bigger than anything we could achieve on our own,” he said.
“So when we looked to the future, we weren’t looking for an owner but rather looking for a partner.
“One that believes in partnership as much as we do, cares about its people and customers as much as its numbers and could help us go further and faster for everyone who relies on us.”
Bye noted that the longstanding relationship between the businesses should ease the transition. “We don’t need to get to know the people as many of them are already friends. We don’t need to learn each other’s markets as we already work in them together. We don’t need to integrate our products as they are already embedded.”
He added: “Having worked alongside Dragonpass for many years, we have seen first-hand its impressive growth from a lounge access provider into a global travel and lifestyle ecosystem.
“Through its relationships with travellers, financial institutions and corporate partners, Dragonpass has built a platform that delivers value across multiple touchpoints of the journey.”
Expanding the offer
In a LinkedIn post, Dragonpass said the acquisition reflects changing traveller expectations and the opportunity to offer benefits across a much broader range of airport touchpoints.
The company currently connects more than 34 million members with travel and lifestyle services, including access to over 1,400 airport lounges alongside dining, Fast Track and other experiences.
iCoupon adds a substantial airport retail dimension to that network. Its technology allows digital entitlements to be attached to a passenger’s boarding pass and redeemed directly at participating points of sale, without the need for paper or digital vouchers.
The platform is used for airline disruption and passenger welfare programmes as well as loyalty, promotional and other travel-related applications.
As we reported recently, iCoupon’s technology has now been available to more than one billion passengers globally. The company issued over £100 million (US$132 million) in digital vouchers in 2025, including 12 million food & beverage entitlements.
Its platform has expanded to 13 modules covering multiple stages of the passenger journey.
Dragonpass, headquartered in Altrincham, Greater Manchester, said the combination would enable travellers to access a wider range of benefits throughout the terminal, while offering its clients a broader and more flexible proposition.
For airports and retailers, the companies see opportunities to increase traveller engagement and generate incremental revenues. Airlines and other travel brands will gain access to a wider suite of services delivered through the existing iCoupon platform.
Continuity and growth
Bye stressed that iCoupon will retain its open-network model following the transaction.
“Our network stays open to all of our partners, the team you know stays in place, and we look forward to bringing new solutions to market with you in the months ahead,” he said.
Founded in Manchester, iCoupon has grown to a team of 39 people while building its network across 56 countries.
Reflecting on the company’s development, Bye said: “Everything we’ve achieved has been done by a team that has grown to just 39 people, across different countries, cultures and time zones.
“Their creativity, dedication and relentless drive to find better ways of doing things turned an ambitious idea into a global business.”
EY advised iCoupon on the corporate finance aspects of the transaction, with Eversheds Sutherland providing legal counsel. ✈
