Investor Actus to Inject Capital Into This Australian Luxury Online Travel Agency
Skift Take
Luxury Escapes, an e-commerce travel deals business, plans to raise as much as $70 million (A$100 million). Makes sense. Travel companies with capital in hand may be best-prepared for the pandemic rebound.
Luxury Escapes, an e-commerce travel deals business formally known as Lux Group, plans to raise as much as $70 million (up to $100 million Australian) with the help of
Auctus, an asset management firm.
Auctus will invest at least $40 million (A$60 million) in Melbourne-based Luxury Escapes, which sells upscale vacation packages. The firm has launched a special purpose investment fund to raise capital that would take a minority interest in the travel business.
The move is the first external equity capital raise by Luxury Escapes since its opened for business in 2013.
