Exoticca, a leading contender to become a unicorn in Barcelona’s entrepreneurial ecosystem, is pioneering the digitalization of complex tourist trips. This category, which involves multiple flights, hotels, and activities, previously lacked an online presence due to its intricacy. The digital travel agency has already achieved significant success in the United States and now aims to replicate this in Chile, Argentina, Uruguay, Peru, Ecuador, and Costa Rica.
This expansion is backed by a recent investment round of 60 million euros in capital, led by Quadrille Capital, which raises the total to 85 million euros. The financing will enable Exoticca to continue investing in technology and accelerate its international growth, solidifying its position as a digital trailblazer in the global organized trips sector – a market that generates over 100,000 million euros annually. Miguel Ángel Alcalá, head of BBVA Spark in Spain, expressed his enthusiasm for supporting Exoticca, citing the company as a prime example of a successful technological firm that has managed to scale and internationalize a product that was previously sold in physical stores.
Pere Vallés, CEO of Exoticca, highlighted that this additional financing from BBVA Spark provides the company with greater flexibility to innovate and expand its international presence, particularly in key markets like the United States, which already accounts for over 50% of their business. A significant portion of this investment will be allocated to enhancing Exoticca’s artificial intelligence and ‘Machine Learning’ platform, allowing for personalized travel recommendations, optimized price strategies, and automated creation of complex itineraries. These innovations will not only facilitate travelers’ search for ideal destinations but also strengthen Exoticca’s global suppliers, ultimately improving customer experience and reducing costs.
As Miguel Ángel Alcalá noted, “From BBVA Spark, we are delighted to support Exoticca again with this 25 million euro agreement, which adds to the one we signed in 2024 for 4 million. Exoticca is a clear example of a successful technological company that has managed to climb and internationalize, digitizing a product that until relatively recently was sold in physical stores.” Pere Vallés echoed this sentiment, stating, “This additional financing from BBVA Spark provides us with even more flexibility to continue innovating in our business model and expand our international presence, especially in key markets such as the United States, where we already generate more than 50% of our business.”
With this influx of funding, Exoticca is poised to further enhance its artificial intelligence platform and Machine Learning capabilities, allowing for tailored travel recommendations, optimized pricing, and streamlined itinerary creation. By doing so, the company aims to not only improve the efficiency of travelers’ searches but also fortify its relationships with global suppliers, leading to an enhanced customer experience and reduced costs. As the digital travel agency continues to push boundaries in the organized trips sector, its commitment to innovation and expansion is likely to yield significant returns, solidifying its position as a leader in the industry.