Exoticca Secures €60 Million in Series D Funding Led by Quadrille Capital
Exoticca, a traveltech platform focusing on multi-day tour packages, has successfully raised €60 million in a Series D funding round, with Quadrille Capital leading the investment. Additionally, new investors All Iron and ICF, along with existing backers such as 14W, Mangrove, Bonsai, Sabadell, and Aldea, also participated in this round.
The conventional multi-day tour package sector has been predominantly untouched by digitalization, resulting in a cumbersome booking process for customers. Exoticca seeks to address this challenge by digitally connecting various services including flights, hotels, and activities, consequently simplifying the booking procedure and decreasing costs by approximately 30% in comparison to its competitors.
The infusion of fresh capital will be channeled towards platform enhancement through the use of AI, improving product offerings, customer experience, and increasing the profitability of partners. Additionally, Exoticca aims to expand into new markets and accelerate the adoption of its platform among both traditional travel agencies and online travel partners. Pere Vallès, the CEO, underscored the company's objective of digitizing multi-day tour packages, making them more accessible and affordable.
Key Takeaways
- Exoticca secures €60 million in Series D funding led by Quadrille Capital.
- The platform digitizes multi-day tour bookings, reducing process time to minutes.
- Exoticca aims to use AI to enhance product offerings and customer experience.
- The company plans to expand into new markets and boost partner profitability.
- Exoticca has seen over 100% year-on-year sales growth since 2015.
Analysis
Exoticca's €60 million Series D funding, led by Quadrille Capital, positions it to disrupt the largely undigitized multi-day tour market. This influx will bolster AI integration, enhancing user experience and operational efficiency, crucial for market expansion and partner profitability. The move could pressure competitors to innovate or consolidate, while traditional agencies may face challenges adapting to digital norms. Long-term, Exoticca's global market penetration could redefine industry standards, influencing travel tech investments and consumer expectations.
Did You Know?
- Exoticca:
- A travel technology platform that specializes in offering multi-day tour packages, aiming to digitize and streamline the booking process for customers.
- It integrates various travel services such as flights, hotels, and activities into a single digital platform, reducing costs by approximately 30% in comparison to traditional competitors.
- Series D Funding:
- The fourth round of institutional venture capital financing, typically undertaken by a company that has established a significant market presence and is looking to scale operations or enter new markets.
- For Exoticca, this round secured €60 million, indicating a strong investor confidence in their business model and growth potential.
- AI in Traveltech:
- The application of artificial intelligence in the travel technology sector, which can enhance various aspects of the travel experience, from personalized recommendations to efficient booking processes.
- Exoticca plans to use AI to improve its product offerings and customer experience, potentially through predictive analytics for travel trends, personalized itinerary planning, and customer service automation.