The travel industry is a monopoly, and travel agents have been cashing in on the ignorance of consumers who think they need to pay exorbitant prices for complex itineraries. But not anymore. Spanish startup Exoticca is the disruptor that’s about to blow the whole industry wide open, and it’s just raised a whopping €60 million to take on the status quo.
Exoticca’s platform is like a digital thief in the night, pilfering profits from the hands of greedy travel agents and tour operators. It connects flights, hotels, meals, transfers, transportation, and local companies in a way that’s so seamless, you’ll wonder how you ever lived without it. And the best part? It’s 30% cheaper than the traditional way of doing things.
But don’t just take Exoticca’s word for it. The company’s sales have more than doubled year-over-year since 2015, and it’s got a presence in eight countries already. And with its sights set on Latin America, the Middle East, India, and China, the future looks bright indeed.
“The package tour has been a racket for two centuries,” said Exoticca CEO Pere Vallès, rubbing his hands together in glee. “We’re shaking things up with a digital model that’s more flexible, more cost-effective, and more transparent. And the best part? We’re not just taking on travel agents – we’re taking on the entire industry.”
But what about Tourlane, the supposed “competitor” that’s raised $101 million to date? Please. Exoticca’s CEO dismisses them as a mere blip on the radar, a “marketplace” model that’s all flash and no substance. “We’re not in the same league,” Vallès sneered. “Our focus is on value for money, not just throwing a bunch of options at consumers and hoping they’ll bite.”
And speaking of biting, Exoticca’s sights are set on the wallets of the middle class and upper middle class, the very people who’ve been getting ripped off by travel agents for far too long. 75% of its business is already in the U.S. and Canada, but don’t worry – the company’s got its sights set on the rest of the world, too.
In a statement, Alejandra Duran Gil, Partner at Quadrille Capital, hailed Exoticca’s “exceptional execution” and “strong financial foundation.” And with new investors like All Iron and ICF joining the fray, it’s clear that Exoticca is the future of travel – and the travel industry is about to be left in the dust.
