Secret Escapes secures £31m in fundraising

Cash injection aims to help refinance debt and support future growth

Secret Escapes has secured more than £30 million to help refinance debt and support future growth.

Chrysalis Investments confirmed that it had invested a £6.5 million in Secret Escapes as part of a wider £31.7 million fundraising exercise.

A spokesperson for the asset management and investment firm said: “Secret Escapes successfully completed an equity raise and refinancing earlier this month, fully supported by existing shareholders and lenders. 

“The company has refinanced existing debt facilities and will accelerate investment in the next phase of the company’s growth strategy.”

A Secret Escapes spokesperson said: “Secret Escapes successfully completed an equity raise and refinancing earlier this month, fully supported by existing shareholders and lenders. 

“The company has refinanced existing debt facilities and will accelerate investment in the next phase of the company’s growth strategy.”

SectThe online travel and experiences company reported last September that it achieved earnings [ebitda] of £5.4 million in the 12 months to December 31, 2021, despite Covid-related disruption in the first half and end of the year.

Trading reached almost 80% of 2019 levels between June and October 2021.

The business lost more than £30 million in its 2020 financial year amid the Covid-19 crisis.