Axon Partners Group, through ICT III Fund, leads a 9 million euros financing round in Pangea The Travel Store. This round aims to improve its technology platform, product and team to further consolidate the company in Spain and to begin internationalization.
Pangea, founded in 2015, is an omnichannel travel agency, specializing in tailor-made trips with physical presence in Madrid and Barcelona, and will soon open two new stores in Bilbao and Valencia. It is a new concept of a travel agency in which the goal is to transform and democratize the sale of travel through a fantastic omnichannel shopping experience (store, web, mobile). Pangea stores are far from being the typical travel agency, they include bookshelves with books on different destinations and all kinds of tools to provide a different experience to the people looking to organize their vacations.
Alfonso de León, CEO of Axon Partners Group, said about the transaction: “We are very excited about this new investment, in the travel agency market, which have hardly changed in the last 20 years and therefore, we think that Pangea has all the qualities to transform the sector through omnichannel strategies”.
Also, David Hernández Pumarega, Founder and CEO of Pangea, said “We are at a key moment in the company in which we want to consolidate as one of the leaders in Spain and start our internationalization and, therefore, it is important and we are proud to have received the support of Axon leading this capital increase. With their support and the rest of the investors that have participated in the round, we are convinced that we will place the company as a world reference of travel agencies“.
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