Exoticca accelerates digital growth strategy with €60M investment

Barcelona-based tour operator Exoticca is accelerating its global growth after closing a €60 million Series D round (which translates to roughly $89,733,235 in Canadian dollars) led by global investment platform Quadrille Capital.

The amount includes participation from new investors including All Iron and ICF and existing investors 14W, Mangrove, Bonsai, Sabadell and Aldea.

The investment comes as Exoticca advances an aggressive digitization strategy.

“Multi-day tour packages, a sector worth over €100 billion, is one of the last segments of the travel industry still dominated by traditional tour operators with very low levels of digitization.,” reads a press release issued Wednesday (July 24). “This prevents travel agencies from offering real-time pricing and availability for complex packages and, as a result, customers experience a cumbersome and time-consuming purchasing process.”

READ MORE: “This move is huge”: Exoticca promotes Diana Winters, grows sales team in Ontario

Exoticca says its technology connects all the flight, hotel, meal, transfer, transportation and activities required to book multi-day tours, connecting local companies in destination with travel agencies and other online players.

By digitizing these aspects, Exoticca says it 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 per cent compared to competitors.”

Exoticca also plans to leverage AI to improve product offering, customer experience and boost its partners’ profitability.

Plans to open in new markets

The company says it is focused on building “a leading global brand and opening in new markets, accelerating the adoption of the platform by both traditional travel agencies, as well as other online travel partners.”

“While the rest of the travel industry has become digitized, the multi-day tour space has remained stagnant, with customers stuck with inconsistent, time-consuming booking experiences,” said Pere Vallès, CEO of Exoticca, in a statement. “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.”

Exoticca first launched in 2013 to serve the European market. It made its Canadian debut in 2019.

The company offers tours, led by local guides, in nearly 60 countries. PAX recently joined Canadian agents in experiencing one of Exoticca’s itineraries in Namibia, Africa. (Click here to read about our on-the-ground experience).

For travel advisors, all the components of an Exoticca trip, which includes packaged flights, are commissionable.

Exoticca grows in Canada

The tour operator recently restructured in Ontario, promoting Diana Winters, previously Exoticca’s director of sales for eastern Canada, to the role vice-president of sales for the province.

Winters’ new duties will involve managing a new Ontario team (the company is hiring two BMDs) while working closely with Mike Quinto, Exoticca’s managing director for Canada.

The Canadian sales team also includes Aerin Chauncey (who oversees Atlantic Canada), Maryanne Dubé (in Quebec), Sharon Wilson (covering Alberta, Saskatchewan and Manitoba) and Cindy Chau (in British Columbia).

READ MORE: Exoticca's Fall Fling returns with more prizes & surprises. Register now!

“Our growth as a company has been exponential and we need to react accordingly,” said Winters in a recent interview with PAX. “The rate of growth that we are experiencing is a testament to the product and the amazing team we have.”

“Our commitment to the advisor community is steadfast, and because of that, they are directly responsible for where we are today and where we are heading.”

Alberto Constans, Exoticca’s chief growth officer, said the tour operator has doubled its size in Canada over the last 12 months – “and [we] expect to double again in the following 12.”

Describing Exoticca as a “Next Gen Tour Operator,” Constans said the company’s intention, globally, is to become the “largest player in all of the English and Spanish-speaking markets.”

“Canada plays a critical role not only because it is already our second-largest source market, but because it offers us a unique platform to grow with strong network partners and top-quality independent travel advisors,” he told PAX.

Exoticca doubles sales

In a release, Alejandra Duran Gil, a partner at Quadrille Capital, said that “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,” Gil stated.

READ MORE: On Location: “Unknown” Africa – PAX unpacks Namibia with Canadian agents & Exoticca

Exoticca says it has “more than doubled” its sales year-on-year since 2015, becoming a “digital category leader and selling trips to over 70 destinations worldwide to travellers in eight markets (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.

Its platform also utilizes a Travel Concierge App, as well as a real-time monitoring and automated response system for all the services included in the package.

Exoticca’s Fall Fling returns

Travel advisors can mark their calendars as Exoticca’s Fall Fling roadshow will return this October and November, landing in select cities across Canada.

Now in its second year, the event will raise the bar in 2024 with more prizes, special guests, learning, tourism boards, food and fun, Quinto said.

“We are expecting to have over 2,000 agents attend these special events across Canada, and trust me, you do not want to miss out this year,” Quinto told PAX. “Spaces are limited, so reserve your spot, right away!”

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