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The combination of manually-curated products with intensive use of technology allows Exoticca to offer never-seen-before prices without compromising on the quality of the trips.
FREMONT, CA: Exoticca, the next-generation tour operator specialized in multi-day package tours, announced that it has closed a round of $30 million led by 14W and Mangrove Capital Partners with the participation of Aldea Ventures and existing investors such as Milano Investment Partners SGR, K Fund, Bonsai Partners, Kibo Ventures and Sabadell Venture Capital. This Series C round brings the total capital raised by the company to date to $53 million.
Exoticca builds its own package tours to over 50 destinations worldwide through a team of destination experts who carefully design the itineraries and select each component of the package, always seeking to optimize both the traveler's experience and the price of the packages.
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Despite Covid, Exoticca has managed to continue growing its sales thanks to measures such as a free cancellation policy, super-discounted prices, and an extended travel window. Exoticca's sales are currently 50 percent higher than before Covid (300 percent in the United States), and the company generates a positive EBITDA.
The new financing will be used to accelerate growth as the travel market continues to recover. The company has launched an ambitious plan to invest in technology and product to further automate the booking process and enhance the travelers' experience. Exoticca is also open to growing through acquisitions.
"We are very happy to partner with 14W and Mangrove because of their experience in building global category leaders in the technology space," says Pere Vallès, Exoticca's CEO. "Travel is back and we believe that this is the right time to invest in order to build a category leader in the multi-day package tour space."
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