Spanish travel tech startup Exoticca has raised a substantial €60 million in Series D funding led by Quadrille Capital. This investment is set to propel the company’s mission to transform the traditionally complex and costly process of booking multi-day tour packages.
A Digital Solution to an Analog Problem
The world of travel has seen rapid digitization, with platforms offering seamless booking for flights, hotels, and even individual activities. However, organizing complex multi-day tours involving multiple hotels, flights, transfers, and local experiences has remained largely untouched by technology. Exoticca aims to change this.
By leveraging its platform, travelers can effortlessly book comprehensive tour packages that include flights, accommodations, meals, transportation, and local activities. The company claims to offer significant cost savings of up to 30% compared to traditional booking methods.
A Strong Market Position and Growth Ambitions
Exoticca has experienced impressive growth since its inception, more than doubling its sales year-over-year since 2015. With a presence in the United States, Canada, United Kingdom, France, Germany, Spain, Mexico, and Colombia, the company has established a strong foothold in key markets.
The fresh influx of capital will be used to expand Exoticca’s reach into new territories, including Latin America, the Middle East, India, and China. The company also plans to invest in technology to enhance its platform, improve customer experience, and boost profitability.
A Competitive Landscape
While Exoticca operates in a relatively untapped market, it’s not without competition. Tourlane, another player in the multi-day tour space, has raised a significant amount of funding as well. However, Exoticca differentiates itself by focusing on real-time pricing and a customer base primarily consisting of middle-class and upper-middle-class travelers seeking value for money.
Investor Confidence
The participation of both new and existing investors in this funding round highlights the strong belief in Exoticca’s potential. Quadrille Capital, the lead investor, expressed confidence in the company’s financial foundation and execution capabilities.
As the travel industry continues to evolve, Exoticca’s innovative approach to multi-day tour packages positions it as a leader in the space. With this latest funding, the company is well-equipped to capitalize on the growing demand for convenient and affordable travel experiences.
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