Online platform Exoticca, that specialises in packages to long-haul destinations, has closed a €3.5 million financing round.
The round was led by the venture capital fund K Fund with the participation of existing investors in the company such as Sabadell Venture Capital and Grupo Palau and new investors such as Nero Ventures, Palladium Corporate Venture and Smartech Capital.
Exoticca claims to be a leading digital provider of trip packages to long-haul destinations allowing online purchase in a single visit of trip packages with multiple components.
It offers ‘affordable luxury’ packages to over 50 destinations worldwide.
The proceeds from this funding round will be mainly used to finance the company’s international expansion.
Exoticca operates in Spain, United Kingdom and France and has plans to enter into new markets starting with Germany in July.
Part of the proceeds from this round will be used to fund the investment in Exoticca’s technological platform.
Chief executive Pere Vallès said: “Our objective is to ‘democratize’ this segment of the travel market, making accessible and affordable to the general public those trips that only a small minority could afford before.
“This round will allow us to launch our platform in new countries while strengthening our technological leadership.”
“When Jesús and Pere approached us about the investment, we did not hesitate one second,” says Iñaki Arrola, General Partner at K Fund. “Making it easy to travel to places far away and with incredible prices was a no brainer. But only on Exoticca.com”.
“We are very excited with the company’s evolution and future plans. To date, Exoticca is one of the biggest bets in the portfolio of Sabadell Venture Capital,” said Xavier Gasquez, investment director at Sabadell Venture Capital.