The round was led by the London fund Harbert European Growth Capital
Exoticca, the online platform specializing in large trips, announces today that it has closed a financing round of 2 million euros led by Harbert European Growth Capital («Harbert»). This round complements the capital round of 3.5 million euros that Exoticca closed in May 2018 with K Fund and Sabadell Venture Capital.
Exoticca is leading the digital transformation of the large travel market through its technological platform that allows travelers to buy large trips with multiple components in a totally online and at the best prices. Exoticca offers travel packages to more than 50 destinations around the world under the concept of ‘affordable luxury’ with high-level suppliers, but at reduced prices thanks to the disintermediation and ‘cure’ of their products.
The resources obtained through the round will be used mainly to finance the company’s international expansion. Exoticca is currently present in six countries – Spain, the United Kingdom, France, Germany, the United States and Canada – and plans to enter four new markets during 2019. This international expansion has led Exoticca to a strong sales growth that they have multiplied by 6 in the last two years, going from 4 million euros in 2016 to 23 million in 2018.
«Our goal is to ‘democratize’ the large travel sector by making accessible and affordable to the general public those trips that previously only a minority could afford,» says Pere Vallès, CEO of Exoticca. «This round will allow us to launch our platform in new countries, as well as strengthen our technological leadership.»
«The Exoticca platform eliminates all the friction existing in the buying process for travelers at prices that make it accessible to the general public, destinations traditionally reserved for a few. It’s a very powerful message for consumers that has resulted in impressive sales growth, «says Bryan McLoughlin, Vice President of Herbert. «We are delighted to support Pere and his team in the growth of the business with our recent investment.»