Tour operator Exoticca has announced a new round of financing, securing 20 million euros ($20.2 million USD).
According to a release from the company, the financing is structured as a venture debt facility provided by Claret Capital Partners and Sabadell Venture Capital Barcelona. This financing round brings the total capital raised by the company to date, through equity and venture debt, to 66 million euros.
Exoticca CEO Pere Vallas said the new round of capital will go toward accelerating organic growth with a focus on North America and expansion plans into Latin America. Exoticca has also recently launched a business-to-business vertical to provide traditional brick-and-mortar travel agencies with technology and competitive travel products.
Exoticca is also open to growing through acquisitions.
"Travel is back and we believe that this is the right time to invest in order to build the digital category leader in the multi-day tour package space," Vallas said in a statement. "We are very pleased with the support from Claret Capital Partners and Sabadell Venture Capital which will enable us to accelerate our growth plans by increasing our investment in technology and product."
Exoticca describes itself as leading the digitization of multi-day tour packages to enable the online sale of complex trips with multiple components, including flights, hotels, transfers, activities, and more.
Despite the pandemic, Exoticca has managed to grow sales at an average compounded growth rate of over 100 percent per year since 2015 and expects to close 2022 with 120 million euros in revenues.
Exoticca sells trips to more than 60 destinations worldwide to travelers in seven markets, including the United States, Canada, United Kingdom, France, Germany, Spain and Mexico.
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