Nidhish Waghmare
Spanish startup Exoticca has successfully raised €60 million in a Series D funding round led by Quadrille Capital. This investment will enable Exoticca to further digitize the complex process of booking multi-day tour packages, offering significant cost savings and a more seamless experience for travelers.
The Challenge in Tour Package Booking
Booking multi-day tours involving numerous flights, hotels, activities, and transfers has traditionally been a cumbersome process managed by travel agents. Due to the absence of real-time pricing for these complex packages, travelers often face higher costs and less convenience.
Exoticca aims to change this by leveraging technology to streamline and digitize the booking process.
Exoticca’s Innovative Approach
Exoticca’s platform integrates various travel components, including flights, hotels, meals, transfers, and local activities, into a single, easy-to-use system. This innovation not only simplifies the booking process but also reduces costs by up to 30%, according to the company.
Since its inception in 2015, Exoticca has more than doubled its sales year-over-year, now operating in multiple countries including the United States, Canada, the United Kingdom, and Spain.
CEO’s Vision and Market Position
Exoticca CEO Pere Vallès highlights that the traditional package tour, invented by Thomas Cook two centuries ago, has seen little evolution. Exoticca’s digital model offers greater flexibility, cost advantages, and a better overall value for money, catering to middle and upper-middle-class customers.
Unlike competitors like Tourlane, which operates more as a marketplace, Exoticca focuses on providing real-time pricing and direct booking capabilities.
Global Expansion and Investor Confidence
With 75% of its business stemming from the U.S. and Canada, Exoticca plans to expand further into Latin America, the Middle East, India, and China. Quadrille Capital’s Partner, Alejandra Duran Gil, emphasizes Exoticca’s strong financial foundation and exceptional execution as key factors in their investment decision.
Other investors in this round include All Iron, ICF, and existing supporters like 14W, Mangrove, Bonsai, Sabadell, and Aldea.
Exoticca’s innovative approach to digitizing and simplifying the booking of multi-day tour packages positions it well to capture a significant share of the travel market. With its latest funding round, the company is poised to expand its reach and continue transforming the travel experience for customers worldwide.
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