Barcelona-based Exoticca, a traveltech platform designing package tours to long-haul destinations, has closed a €5 million extension of its Series B, bringing the round’s total to €16 million. The extension was led by Milano Investment Partners with the participation of K Fund, Bonsai Partners, Pase Capital, Kibo Ventures and Sabadell Venture Capital. The other €11 million was secured in July 2019.
The fresh financing will help the company prepare for post-Covid travel demand, namely by investing in the tech platform and product offerings. Currently, though, Exoticca’s website primarily advertises that there’s free cancellation on all trips.
“There are many people eager to travel again and we believe that this is the right time to invest in order to build a global category leader in package tours,” says Pere Vallès, Exoticca’s CEO.
The traveltech company offers ‘affordable luxury’ package tours to over 50 destinations around the world, selling to travelers from six markets: Spain, the UK, France, Germany, the US and Canada. Experts in each destination design the itinerary of the packages and choose each component (flight, hotel, activities, etc.) with an eye to optimising both the traveler’s experience and the price of the packages.
In addition to post-Covid preparations, the Spanish startup is considering acquisitions to accelerate its growth in certain segments of the travel market. Previously the company had raised €2 million in venture debt in April 2019 and €3.5 million in equity back in 2018.