Somewhere in between travel lockdowns and more chaos at airports and hotels in the last two years, people have become more confident about travelling. And as the Covid-19 pandemic finally recedes, the travel tech startups have bounced back and how.
Despite Covid, the company claims to have managed to grow sales at an average compounded growth rate of over 100% per year since 2015 and expects to close 2022 with €120 million in revenues. It sells trips to over 60 destinations worldwide to travellers in seven markets: U.S., Canada, U.K., France, Germany, Spain and Mexico.
Focusing on digitisation of multi-day tour packages to enable the online sale of complex trips with multiple components, including flights, hotels, transfers, activities, etc., the startup aims to provide a frictionless purchasing experience while guaranteeing prices through a combination of disintermediation and automation. The platform also offers customer support in the destination with real-time monitoring of the travellers’ experience.
The extra cash in the wallet will be used to accelerate organic growth with a focus on North America and make inroads into Latin America. The platform also plans to grow through acquisitions in near future. The company recently launched a B2B vertical to provide traditional brick-and-mortar travel agencies with technology and competitive travel products.
Pere Vallès, Exoticca’s CEO said: “Travel is back and we believe that this is the right time to invest in order to build the digital category leader in the multi-day tour package space. The new capital will enable us to accelerate our growth plans by increasing our investment in technology and product.”