Multi-day packaged tours provider Exoticca has closed a venture debt financing round of €20 million to expand in North America and Latin America.
Claret Capital Partners and Sabadell Venture Capital led the round, bringing the Barcelona-based company’s total capital raised to date, through equity and venture debut, to €66 million.
Founded in 2013, Exoticca enables the online sale of complex trips with multiple components such as flights, hotels, transfers and activities. Using disintermediation and automation, it allows for frictionless purchasing at low prices.
Each of Exoticca's itineraries are designed by a team of more than 50 product crafters and curators who have traveled extensively to the destinations they cover. The company says all its packages are created in a way to show respect and admiration for other cultures and the environment.
Exoticca says that, despite COVID-19, it grew sales at an average compounded growth rate of more than 100% per year since 2015 and expects to close 2022 with €120 million in revenues.
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“Travel is back and we believe that this is the right time to invest in order to build the digital category leader in the multi-day tour package space,” says Exoticca CEO Pere Vallès.
“We are very pleased with the support from Claret Capital Partners and Sabadell Venture Capital which will enable us to accelerate our growth plans by increasing our investment in technology and product.”
In July 2021, Exoticca closed a $30 million Series C round, which followed a €5 million top-up investment to its Series B round in 2020.
Recently, it launched a B2B vertical that gives traditional brick-and-mortar travel agencies access to its technology and travel products.
Exoticca sells trips to more than 60 destinations in seven markets: the United States, Canada, the United Kingdom, France, Germany, Spain and Mexico.