Secret Escapes handed keys for further expansion with $111m funding

London-based travel startup Secret Escapes has raised $111m (£83m) in its latest funding round.

The membership-based online travel booking platform now plans to ramp up its international expansion drive, eyeing acquisitions as it grows.

“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,” said chief executive Alex Saint.

The series D investment and debt facility was led by Singapore’s Temasek, with existing investors Idinvest Partners. Debt facility came from Silicon Valley Bank.

Guillaume Durao, of Idinvest Partners said: “A clear leader in the travel flash sales industry, Secret Escapes has proved to be the preferred and trusted partner of thousands of hotels owners in Europe and beyond. We have been proud to support the Secret Escapes team for the last few years and today, we are excited to participate in the series D round with our Growth Fund II, enabling the brand to further develop its global leadership.”

Read more: Democratising luxury travel: Behind the success of Secret Escapes

With the additional funding, Secret Escapes has now raised almost $153m (£104m) in capital since its 2011 launch.

Currently operating in 21 areas in Europe, Asia, and the US, the group has 47m members worldwide. It offers its members deals on hotels and holidays at up to 70 per cent off through regular flash sales.

Recent acquisitions include Prague-based Slevomat Group, which made the company the biggest holiday deals operator in central Europe.

It is also looking into the possibility of a London IPO within the next few years.