Spain-based digital travel agency Exoticca has secured €5m ($5.9m) in a series B extension featuring Sabadell Venture Capital, financial services firm Sabadell’s venture capital arm, Expansión has reported.
Growth equity firm Milano Investment Partners led the second tranche, which included Bonsai Partners, K Fund, Kibo Ventures and Pase Capital.
The fresh funding was supplied through convertible loans and lifted the series B round to about $18m. It followed a $12.3m first close in July 2019 that was also led by Milano Investment Partners and which counted contributions from Bonsai, K Fund, Kibo and Harbert European Growth Capital.
Founded in 2013, Exoticca runs an online trip booking platform that caters to customers in Canada, France, Germany, Spain, the UK and the US that are looking for long-distance travel experiences in destinations such as Brazil, India, Japan and Peru.
The company will use the series B cash to buy online and traditional travel agencies in a bid to cope with the post-pandemic reality in the travel industry.
Sabadell Venture Capital had already participated in a $4.1m round for the company in mid-2018 that was led by K Fund, which invested alongside construction firm Grupo Palau, hotel chain operator Palladium Hotels’ Palladium Corporate Ventures subsidiary and Nero Ventures.
