Members-only travel club Secret Escapes steps closer to £ 50million Series D – TechCrunch

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Update: Secret Escapes a confirmed that he raised £ 83million in a mix of equity and debt. Series D is led by Singaporean Temasek, with existing investor Idinvest Partners. The credit facility is provided by Silicon Valley Bank and from what I can tell is around £ 31million of the round while the direct investment in equities amounts to £ 52million ( see original report below).

Secret getaways, the members-only travel club offering discounted rates on handpicked luxury hotels and vacations, is closing in on Series D funding. Sources say the London-based company is set to announce a funding round of over £ 50 million.

For reference, the company last raised $ 60million (£ 45.5million at today’s exchange rate) in July 2015, in a Series C round led by GV (then called Google Ventures). Secret Escapes is also backed by Octopus Investments, Index Ventures and Atlas Venture.

According to a regulatory filing on Companies House, new shares worth just over £ 52million have been issued. A source tells me that Temasek led the Series D cycle, while another regulatory brief for Secret Escapes shows that Temasek’s Nezahat Gultekin recently joined the board.

I have reached out to Secret Escapes Co-Founder and CEO Alex Saint for comment and will update this post when or if I have any news.

Founded in 2011, Secret Escapes operates a “members only” site with handpicked hotel and vacation deals. Each week, he organizes short “flash sales” of ten days each. “There may be up to 140 sales going on at any one time, but we’ll email you to let you know what’s going on during the week,” the Secret Escapes website states.

Initially available in the UK only, the startup has since expanded internationally and at last count is available in 18 countries, some of which are from acquisitions. In August, Secret Escapes purchased Czech flash deal site Slavomat Group for an undisclosed amount.

Other purchases in recent years include German mobile hotel booking app Justbook and UK-based night planner app My City Venue.


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