Barcelona-headquartered Exoticca, a traveltech platform for multi-day tour packages, has closed €60 million in funding. The Series D round was led by Quadrille Capital (which recently backed Rohlik and Anyfin) the global investment platform focusing on high-growth technology companies, with the participation of new investors, including All Iron and ICF, and existing investors 14W, Mangrove, Bonsai, Sabadell, and Aldea.
How will it use the investment?
This latest investment will allow Exoticca to develop its platform, leveraging AI to improve product offerings and customer experience and boost its partners’ profitability. The company is focused on building a leading global brand and tapping into new markets, accelerating the platform’s adoption by both traditional travel agencies and other online travel partners.
Alejandra Duran Gil, Partner at Quadrille Capital, said: “Exoticca is revolutionising the travel booking experience worldwide, significantly enhancing efficiency and affordability for travellers. Exoticca’s strong financial foundation and the team’s exceptional execution are at the heart of our investment thesis. We are looking forward to supporting the company in its next phase of growth, leveraging our technology and financial expertise to contribute to its continued success.”
What change does it bring?
The multi-day tour packages sector worth over €100 billion is one of the last segments of the travel industry that traditional tour operators dominate with very low levels of digitisation. This prevents travel agencies from offering real-time pricing and availability for complex packages. Due to the lack of digitisation, customers experience a cumbersome and time-consuming purchasing process.
Led by CEO Pere Vallès, Exoticca’s bespoke technology connects all the different services, including flights, hotels, meals, transfers, transportation, and activities required to book multi-day tours, connecting local companies at destination with travel agencies and other online players and therefore provides the broadest scope for tour package distribution.
By digitising all parts of the booking process, Exoticca has cut the process of booking complex long-haul trips down to just minutes and can guarantee its customers the best prices, bringing costs down by around 30% compared to competitors.
The platform also enhances customers’ travel experience through a Travel Concierge App and a comprehensive real-time monitoring and automated response system for all the services included in the package.
As per the company, Exoticca has more than doubled its sales year-on-year since 2015, becoming the digital category leader. It has sold trips to over 70 destinations worldwide to travellers in 8 markets, including the United States, Canada, United Kingdom, France, Germany, Spain, Mexico, and Colombia directly and through a network of travel and non-travel online and offline partners.
Pere Vallès, CEO at Exoticca, said: “While the rest of the travel industry has become digitised, the multi-day tour space has remained stagnant, with customers stuck with inconsistent, time-consuming booking experiences. Exoticca’s mission is to bring multi-day tour packages into the digital age, making dream trips accessible and affordable to everyone. The new funding will accelerate our vision and allow us to substantially increase our investment in technology, product and growth.”
What do we think about Exoticca?
Exoticca is set to transform the multi-day tour package industry with its technology, making travel planning seamless and efficient. By digitising the booking process, Exoticca enhances real-time pricing and availability, drastically reducing costs and time for customers.
With a strong focus on global expansion and leveraging AI to improve customer experience, Exoticca is poised to become a leading global travel brand. Its impact will be profound, bringing affordability and convenience to travelers worldwide while modernizing the travel industry.
