Secret Escapes raises an additional £52m from Old Mutual Global Investors.
The London-based online marketplace which offers ‘affordable’ luxury deals has so far raised $153m (£104m) in capital since it launched in 2011.
Secret Escapes will use the cash to grow and to boost the ongoing integration of the Slevomat Group – a travel deals and experiences company it acquired late last year. Central and Eastern Europe’s travel.
Additionally, the money will be used to execute several strategic projects such as in-house hotel and flight packaging across established markets.
Secret Escapes has expanded into 21 territories across Europe, Asia and the US since launching seven years ago.
It also claims to have grown its global membership base from four million in January 2014 to its current level of over 50 million worldwide.
Alex Saint, chief executive of Secret Escapes, said: “We’re delighted to be joining the likes of The Hut Group and TransferWise in OMGI’s impressive UK small- and mid-cap equity portfolio, as we enter the next exciting stage of Secret Escapes’ growth. The support from OMGI will help us to inspire the world to escape with amazing hand-picked, discounted travel deals and innovative product developments.”
Dan Nickols and Richard Watts, UK small- and mid-cap portfolio managers at Old Mutual Global Investors added:“Since launch, Secret Escapes has become a clear leader in the travel sphere; building a database of loyal travellers and acting as a trusted and valuable partner for hotels and holiday suppliers across the globe. We’re proud to support Secret Escapes and its profitable business model on this next step, as the brand further develops its global leadership, develops new products and offers its members luxury travel for less.”