Spain: Seville-based glamping startup Kampaoh has announced that it has closed a €14 million round of financing to drive its expansion plan across Europe.
The operation has been made up of two parts – €12.5 million in debt provided by Alter Capital, Zenon Asset Management and BBVA, with €1.5 million has been raised as a bridge round from existing investors including JME Ventures, Axon Partners Group and Encomenda Smart Capital.
It represents the startup’s third round of investment in the last three years, having secured funding in the region of €300,000 in 2020 and €5 million at the end of 2021.
Kampaoh wants to use the fresh capital to increase its number of glamping “tents” by more than 200 per cent from 1,200 in 2022 to between 3,500 and 4,000 accommodations in 2023, double the number of campsites where it operates from 40 to 80, and expand its presence into four countries in Southern Europe, including international markets such as Portugal and France.
In addition, the glamping startup is aiming to exceed €30 million in sales this year, having sold more than €8.8 million in 2022, as Kampaoh seeks to establish itself as a national and international reference point for the segment.
While claiming to have a current waiting list of 300+ campsites, it is reported that Kampaoh’s latest financing will serve as a prelude to a larger round totalling €150 million, which is already being negotiated and is expected to close between June and September this year.
The larger round could enable Kampaoh to achieve its ambitions of reaching 30,000 nature-based accommodations and achieving 225 million sales in the next three years, as well as expanding into potential new markets such as Italy, Croatia, Germany and the Dominican Republic.
Founded in 2016, Kampaoh seeks to provide a nature-based lodging option for guests that still want the usual comforts of a hotel or an apartment in campsites located on beaches or in forests or mountain destinations.
The accommodations, some of which are made out of bamboo and wood, cater to lone travellers or groups of up to six people, and can be fixed or moved. They are also equipped with beds, sheets, bath towels, cleaning and replacement services, tables, chairs, carpets, an electrical system and lighting, kitchenware and portable refrigerators.
Kampaoh currently offers campsites in locations across Spain, including Andalusia, Valencia, Castilla La Mancha, Navarre, the Basque Country, Catalonia, Cantabria, Asturias and Galicia.
