The firm, which builds and maintains booking systems for the likes of Hays Travel, Flight Centre and Imagine Cruising, wants to boost turnover to £25 million and create an additional 200 jobs.

To do this the company will shortly begin a marketing process to attract venture capital, private equity and angel investment.

Kenny Picken, president and group managing director of Traveltek Group said: “We have a strong position as the booking systems supplier of choice for many of the major travel trade businesses. There is a significant opportunity to leverage that position and develop Traveltek into a major global technology business."

The business was launched by Picken in 1995 and has grown from a start-up to employing nearly 100 staff and turning over £4.3 million.

Three new offices will be opened in Sao Paulo, Shanghai and Dubai, joining Traveltek’s existing offices in Miami, Sydney and Hyderabad in India, which is a development centre.

Picken added: "Growth finance will enable us to accelerate that process, build a larger global footprint and create a large number of high quality technology jobs, many of which will be in Scotland. The right partner will share our vision and the funding will help us invest in the latest technology, new infrastructure, business systems, business development and new talent.”

Chris Horne, managing partner with accountancy firm and advisers Campbell Dallas, added: “Traveltek has quietly grown into a significant Scottish technology business, is very profitable and is continuing to grow. Growth finance will enable the business to take a quantum leap forward with its ambitious expansion strategy.”