A cross-practice team advised Secret Escapes on its raising of $111m (£83m) in Series D equity and debt funding.
London-based Secret Escapes, the worst-kept secret in luxury travel, operates in 21 territories and has a global membership of over 47 million. Members have access to exclusive rates for luxury hand-picked hotels and holidays, offering flash sales and discounts of up to 70% off the price if booked elsewhere. The significant cash injection will be used to finance the company’s further expansion, including worldwide acquisitions of companies such as Czech firm Slevomat.
Taylor Vinters’ Chris Keen (Growth Partner) and Geoff Dragon (Growth Associate) advised on the £53 million equity round which saw existing investors, Idinvest Partners, return as backers of the round led by Singapore-headquartered Temasek.
Silicon Valley Bank provided Secret Escapes with additional capital through a debt facility deal led by Taylor Vinters’ Sian Scanlon (Corporate Partner) and Susan McDonald (Corporate Senior Associate).
Chris Keen commented: “Secret Escapes is exactly the kind of fast-growing, entrepreneurial, international business that Taylor Vinters is built to service. This Series D fundraising will help to further unlock the huge potential of Secret Escapes’ business, and we look forward to continuing to work with them to achieve that objective. We are thrilled to have advised the team on this deal, and really enjoyed working with them. Our congratulations go to Alex Saint and all of his team on this fantastic achievement.”
Alex Wakeford, Finance Director at Secret Escapes commented: “Our recent Series D fundraising was critical to the success of the business, and with Chris and the team we felt that we were in safe hands to steer us through such an important transaction. Chris and Geoff worked tirelessly on what was a highly complex set of documents, opposite a significantly larger team acting for the investor, and impressed not only ourselves but also our shareholders with their hard work. It was testament to their professionalism and unflappability that it was only after closing that we found out they had simultaneously closed 5 other deals in the same week. They truly exceeded expectations and were a pleasure to work with.”