Exoticca, a Spanish startup, has successfully raised €60 million in a Series D funding round led by Quadrille Capital. The company aims to revolutionize the market for multi-day tour packages, an area that has been slow to digitize. Traditionally, travelers who wanted to book complex trips involving multiple hotels, flights, activities, transfers, transport methods, and guides had to rely on travel agents due to the lack of real-time pricing for these offerings. However, Exoticca’s platform simplifies the booking process for these types of packages and claims to reduce costs by up to 30%.
Since its inception in 2015, Exoticca has experienced significant growth, more than doubling its sales year-over-year. The company now operates in several countries, including the United States, Canada, United Kingdom, France, Germany, Spain, Mexico, and Colombia, through a network of online and offline partners in the travel and non-travel sectors.
Exoticca’s CEO, Pere Vallès, highlights that the package tour industry hasn’t evolved much since its invention by Thomas Cook two centuries ago. Exoticca aims to bring a more digital and flexible model to the market while offering cost advantages. While Exoticca faces competition from platforms like Tourlane, Vallès sees them as having a different model that is more focused on a marketplace approach and lacks real-time pricing.
Exoticca’s target audience is the middle class and upper middle class who seek value for money when booking their trips. The company’s primary market is in the U.S. and Canada, accounting for 75% of its business. However, Exoticca plans to expand its reach into Latin America, the Middle East, India, and China.
The successful funding round was supported by Quadrille Capital, as well as new investors All Iron and ICF, and existing investors 14W, Mangrove, Bonsai, Sabadell, and Aldea. Alejandra Duran Gil, Partner at Quadrille Capital, expressed confidence in Exoticca’s financial foundation and the team’s exceptional execution as the basis for their investment.
Overall, Exoticca’s innovative approach to digitizing and simplifying the booking process for multi-day tour packages positions them as a leading player in the travel industry. With their focus on providing value for money and expanding into new markets, Exoticca is poised for continued growth and success in the future.