Idinvest buys minority stake in VC-backed Secret Escapes

Idinvest declined to specify the amount of equity it invested in Secret Escapes.

The VC decided to back Secret Escapes based on the company's mounting interest to operate in France. As part of the agreement, Guillaume Durao, an investment director at the GP, will become an observer on the company's executive board.

Previous funding
According to unquote" data, this is the fifth injection of institutional money seen by Secret Escapes since its foundation in 2011. In April that year, the business first received seed financing from VC Octopus Investments. This was followed by a series-A in October 2011 that saw Octopus deploy equity alongside fellow VC Atlas Ventures.

In October 2012, Secret Escapes secured a further £8m during a round led by new backer Index Ventures. At the time, the business stated the funds would be dedicated to expand its travel offer and bolster its existing operations both in the UK and abroad.

In August 2015, Secret Escapes held a $60m series-C led by Google's VC arm. The round, featuring previous backers Octopus, Atlas and Index, was used to finance the company's roll-out in the US and Asia, with plans for both organic growth and bolt-on acquisitions.

Company
Founded by Alex Saint, Tom Valentine and Troy Collins in February 2011, Secret Escapes operates a website and an app where customers browse through a selection of luxury holiday packages. The business uses partnerships with hospitality and tour operators to negotiate rates for its customers.

Headquartered in London, the company claims to service 15 million members in the UK and 25 million worldwide, via operations in Germany, Spain, Italy, Poland, the Nordic countries and the US, among others.

People
Idinvest – Guillaume Durao (investment director).
Secret Escapes – Alex Saint (co-founder, CEO).

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• Topics
• Expansion
• Consumer
• UK / Ireland
• United Kingdom
• IDInvest Partners (AGF Private Equity)
• Venture