Exoticca, a traveltech platform for multi-day tour packages, has announced today that it has closed a €60 million Series D round led by Quadrille Capital. New investors All Iron and ICF and existing investors 14W, Mangrove, Bonsai, Sabadell and Aldea also participated.
The multi-day tour package sector is dominated by traditional tour operators with very low levels of digitisation. This prevents travel agencies from offering real-time pricing and availability for complex packages and, as a result, customers experience a cumbersome and time-consuming purchasing process.
Exoticca’s technology connects all the different services (flights, hotels, meals, transfers, transportation and activities) required to book multi-day tours, connecting local companies at destination with travel agencies and other online players and therefore provides the broadest scope for tour package distribution. By digitising all parts of the booking process, Exoticca has cut the process of booking complex long-haul trips down to just minutes and can guarantee its customers the best prices, bringing costs down by around 30% compared to competitors.
This latest injection of funding will allow Exoticca to develop its platform, leveraging AI to improve product offering, customer experience and boost its partners’ profitability. The company is focused on building a leading global brand and opening in new markets, accelerating the adoption of the platform by both traditional travel agencies, as well as other online travel partners.
Pere Vallès, CEO at Exoticca, commented: “While the rest of the travel industry has become digitised, the multi-day tour space has remained stagnant, with customers stuck with inconsistent, time-consuming booking experiences. Exoticca’s mission is to bring multi-day tour packages into the digital age, making dream trips accessible and affordable to everyone. The new funding will accelerate our vision and allow us to substantially increase our investment in technology, product and growth.”
Alejandra Duran Gil, Partner at Quadrille Capital, said: “Exoticca is revolutionising the travel booking experience worldwide, significantly enhancing efficiency and affordability for travellers. Exoticca’s strong financial foundation and the team’s exceptional execution are at the heart of our investment thesis. We are looking forward to supporting the company in its next phase of growth, leveraging our technology and financial expertise to contribute to its continued success.”
Exoticca has more than doubled its sales year-on-year since 2015, becoming the digital category leader and selling trips to over 70 destinations worldwide to travellers in 8 markets (United States, Canada, United Kingdom, France, Germany, Spain, Mexico and Colombia) directly and through a network of travel and non-travel online and offline partners.
The platform also enhances customers’ travel experience through a Travel Concierge App and a comprehensive real-time monitoring and automated response system for all the services included in the package.
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