Madrid-based Civitatis, a marketplace for guided tours and activities for Spanish and Portuguese-speaking consumers, has secured an additional $50M (approximately €46.73M) in funding from existing investor Vitruvian Partners, a London-based investment firm.
With this funding, Civitatis says it will continue cementing its position as the premier brand for tours and activities in Spain and Latin America, focusing on Mexico, Brazil, and Argentina, where it has led in sales for years.
The investment involves the sale of secondary shares, as the profitable company has no need for primary capital.
What does Civitatis offer?
Civitatis, a cashflow-positive company since its inception in 2008, aims to become a Spanish unicorn as a curated marketplace for tours and activities. The company is led by its founder and CEO, Alberto Gutiérrez.
Gutiérrez says, “Our growth and profitability have been fuelled by a combination of highly effective sales channels, a well-invested technology platform, and a customer-centric approach, providing the activities and tours in our customers’ own preferred language.”
“Our customers appreciate our expertly curated catalogues of activities across the world, as well as the easy booking and, of course, the outstanding experience that they have with us. With the support of Vitruvian, we are continuing to expand our offerings and meet the demands of our rapidly growing customer base.”
In 2023, the company offered 90,000 activities across 4,000 destinations in 160 countries, serving over 10 million customers.
Vitruvian Partner, Sophie Bower-Straziota, adds, “Under Alberto’s strong leadership Civitatis has grown at an exceptional rate, 50 per cent each year, whilst maintaining continuous and strong profitability.”
“The market potential is large and growing, with 750 million Spanish and Portuguese speakers worldwide. We were delighted to have the opportunity to increase our shareholding and provide additional support for the company to continue its impressive expansion.”
Brief about Vitruvian Partners
Vitruvian Partners is an international growth-focused investor with offices in London, Madrid, Miami, Stockholm, Munich, Luxembourg, San Francisco, Singapore, Mumbai and Shanghai. The firm specialises in growing asset-light industries with approximately $20B in active funds.
The UK-based investment firm has backed global leaders in travel and experience technology like Skyscanner, Fever, Sykes, Travel Counsellors, OAG, and Jac Travel, as well as tech firms such as Just Eat, Wise, Darktrace, CRF Health, Snow Software, and Bitdefender.
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