Singapore: Temasek leads $111m Series D in UK travel marketplace Secret Escapes

Temasek brand logo (from its social media page)

Secret Escapes, the London-based international online marketplace for affordable luxury travel deals, has closed an $111 million (£83 million) Series D investment led by Singapore state investor Temasek Holdings with participation from existing investor Idinvest Partners.

The round also included a debt facility from Silicon Valley Bank.

The Series D funding round will be used for driving growth and international expansion, including acquisitions.

With the additional funding, Secret Escapes has now raised almost $153 million in capital since its 2011 launch. In July 2015, the company raised $60 million (£37 million) in a round led by Google Ventures and Octopus Ventures.

Founded by CEO Alex Saint, COO Tom Valentine and Troy Collins, the company works with hotels, tour operators and travel agents to negotiate exclusive rates for over 47 million members globally, and over 19 million members in the UK. It offers luxury travel for less by running ‘best-in-market’ flash sales of four and five-star hotels and holidays worldwide

Outside of the UK, Secret Escapes operates in Sweden, Germany, Poland, Denmark, Norway, Austria, Switzerland, Italy, Spain, Belgium, the Netherlands, the USA, Hong Kong, Malaysia, Indonesia, Singapore, France, Hungary, Slovakia and the Czech Republic.

Its membership base has reportedly grown from four million in January 2014 to more than 47 million worldwide.

Secret Escapes, which offers its members exclusive deals on hand-picked hotels and holidays at up to 70 per cent off, has enjoyed compound annual revenue growth of 185 per cent, having recently acquired Slevomat, Central and Eastern Europe’s travel deals and experiences company.

Alex Saint, Chief Executive of Secret Escapes, said: “The cash injection of $111 million will enable Secret Escapes to achieve its vision to inspire the world to escape and 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.”

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