Barcelona firm tipped as the next-gen platform for automated multi-day group travel
Exoticca completes £30m Series C funding round as growth defies COVID impact
Multi-day package tours operator Exoticca has closed a $30 million Series C funding as it sees sales far exceed pre-COVID levels.
The Barcelona-based firm completed the latest investment deal this week, which takes the total amount raised to date to $53 million.
The round was led by 14W and Mangrove Capital Partners with the participation of Aldea Ventures and existing investors such as Milano Investment Partners SGR, K Fund, Bonsai Partners, Kibo Ventures and Sabadell Venture Capital.
Exoticca builds its own package tours to over 50 destinations around the world through a team of destination experts who design itineraries and select each component.
By combining manually-curated products with the use of technology, Exoticca says it can offer “never-seen-before prices without compromising on the quality of the trips”.
Exoticca says it is seeing continued growth in sales, despite COVID thanks to its free cancellation policy, discounted prices and an extended travel window.
Sales are currently 50% higher than before Covid, and up by threefold in the US, and the company says it is operating profitably.
The new financing will be used to accelerate growth as the travel market continues to recover.
Exoticca has launched an ambitious plan to invest in technology and product to automate the booking process and enhance traveller experience.
Pere Vallès, Exoticca chief executive, said the firm is also open to opportunities to grow through acquisition.
“We are very happy to partner with 14W and Mangrove because of their experience in building global category leaders in the technology space.
“Travel is back and we believe that this is the right time to invest in order to build a category leader in the multi-day package tour space”.
Mark Tluszcz, chief executive of Mangrove Capital Partners, added: “We have all been dreaming of faraway adventures during the pandemic and we see a huge opportunity for Exoticca as those dreams are turned into reality.
“Exoticca has an awesome team and is leading the digital transformation of the market for multi-day package tours to long-haul destinations.”
Alex Zubillaga, Founder of 14W, said: “We are thrilled to partner with the team at Exoticca as they expand their offering to a growing audience which demands a more seamless travel experience.
“We view Exoticca to be the next-generation platform for automated group travel, with a global reach.”