Secret Escapes Survived Pandemic Thanks to $74 Million Fundraising
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Financial filings reveal how well deals specialist Secret Escapes was performing before the pandemic struck and how much venture capital backing it received during the crisis to stay afloat. The figures hint at how the company's recovery this year may play out.
Travel deals specialist Secret Escapes survived the pandemic with the help of an approximately $74 million (£55 million) Series E equity fundraising from all its existing shareholders in May 2020, according to new financial filings.
The crisis risked the existence of the UK-based travel flash-deals startup, which had previously been a darling of venture capital. In October 2017, Secret Escapes had announced a Series D round of $178 in equity and debt investment. Its management later said they hoped to take the company public in 2021.
Accounting statements filed with the UK Companies House on February 11 (embedded, below) revealed how critical the financial help was in 2020.
Secret Escapes, which offers disc
