Secret Escapes Raises US$111m, Acquisitions on the Agenda

Secret Escapes CEO Alex Saint

Secret Escapes Founder Alex Saint has flagged more acquisitions for the London-based luxury flash deals site after raising a further US$111m in cash and debt.

The Series D raising was led by Temasek, a Singapore Govt sovereign investment fund.

Existing investors Idinvest Partners and Silicon Valley Bank also participated, with cash and a debt facility respectively.  

Secret Escapes has now raised almost US$153m in capital since its 2011 launch. Other investors include Google Ventures and Octopus Ventures.

CEO Alex Saint said Secret Escapes mission is to “become the number one travel deals website in the world. The support and investment from Temasek, Idinvest Partners and SVB will help us accelerate our mission through worldwide acquisitions.”

Saint said Secret Escapes, which recently acquired Slevomat, Central and Eastern Europe’s leading travel deals and experiences company, achieved annual revenue growth of 185 per cent, having 

“We’ve reached a particularly exciting point in our brand’s development where we’re operating in 21 territories, having sold over seven million room nights,” he said.

Secret Escapes now operates in 21 territories in Europe, Asia and the US. Its global membership base has grown from four million in January 2014 to 47 million.

“We’ve reached a particularly exciting point in our brand’s development,” said Saint.

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