Flightradar24 Sells 35% Stake for US$500 Million

Flightradar24, a Swedish flight tracking platform, has sold a 35% stake to London-based private equity firm Sprints Capital, in a deal  valuing the company at US$500 million. The transaction provides founders Mikael Robertsson and Olov Lindberg with a combined US$175 million, while they retain 65% ownership and full operational control.

Founded in 2006 as a hobby by Robertsson and Lindberg, Flightradar24 has grown into a global leader in real-time air traffic tracking, widely used by aviation professionals, enthusiasts, and media outlets. The company operates a network of more than 30,000 volunteer-run ADS-B receivers worldwide, supplying live aircraft data.

The deal involved the sale of existing shares, meaning the proceeds went directly to the founders rather than into Flightradar24’s corporate expansion funds. Sprints Capital, which has also invested in Hemnet and Modular Finance, is expected to support the company’s next phase of international growth.

In 2024, Flightradar24 reported revenue of SEK 420 million (US$41.4 million), up 18% year-over-year, with a profit margin of 52%. Its business model combines premium subscriptions, advertising, and commercial data sales. Subscriptions—available in Silver, Gold, and Business tiers—offer advanced features such as historical flight data and weather overlays. Advertising supports the free service, while airlines and regulators purchase access to detailed datasets.

Flightradar24’s mix of open and commercial data has made it a dominant force in the industry. Unlike many tech startups, the founders waited 18 years before partially selling equity, building a near-monopoly in live flight tracking. Analysts note this patience maximized both their financial returns and long-term control. The company competes with rivals such as FlightAware.