Fresh investment for Secret Escapes
Flash sale travel site Secret Escapes has secured investment from venture capitalist firm Idinvest Partners, which has taken a minority stake in the London-based business.
The company, which sells rooms in four and five-star hotels at discounts of up to 70%, did not reveal the size of the investment.
Idinvest Partners said Secret Escapes had leading positions in Germany, Sweden and Poland and had recently started to see significant traction in the US.
"Secret Escapes is simply one of the most promising digital companies in Europe right now. It has proven in the UK that it could build a massive, loyal, discerning and profitable base of customers in a very short time," said Guillaume Durao, Investment Director at Idinvest.
"Given the company’s execution capabilities, its ambition and level of funding, Idinvest is confident that it can do the same in other European countries and even in the US and in Asia where Secret Escapes has started to build the appropriate supply of hotels.
"We are convinced that Secret Escapes can become a global multi-billion turnover business in the coming years and the place for smart consumers looking to book their holidays. So when we had the opportunity to partner with the company, especially as they have an increasing interest in France, it was a no brainer for us."
Secret Escapes was launched in 2011 by Alex Saint and Tom Valentine and has over 25 million subscribers in 13 countries.
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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