Luxury travel club Secret Escapes has raised £83 million in both equity and debt funding led by Temasek with participation from Idinvest Partners and the debt portion of the round coming from Silicon Valley Bank.
News about the funding round first surfaced late last week with reports that the company was gearing up to announce a round of about £50 million.
The London-based company offers deals on luxury travel packages and hotels and currently operates in Europe, the US, and Asia. The new round of funding will help Secret Escapes “achieve its vision to inspire the world to escape and to become the number one travel deals website in the world,” CEO Alex Saint told City AM. The company has now raised more than £100 million.
It has made three acquisitions to date (Slevomat, MyCityVenue, JustBook). With its new funding, it will look to grow further through more acquisitions in the travel tech space.