Plusgrade

Executive Summary

Plusgrade is a Montreal-based company that provides ancillary revenue solutions for the travel industry, including airlines, hotels, and rail operators. The company has demonstrated significant growth, as evidenced by its recapitalization in 2023 at a valuation exceeding US$1 billion and the strategic acquisition of Points.com in 2022. Its established market position and scale in a specialized segment of the travel sector, combined with recent M&A activity, could support an attractive IPO narrative focused on continued expansion within the loyalty and ancillary revenue space.