Tour operators

Klook clinches ‘largest financing’ in its sector

Posted by Phil Davies on
Klook clinches ‘largest financing’ in its sector

Asia-based travel activities and services booking platform Klook has secured new funding worth $225 million.

This increases the Hong Kong company’s total Series D funding round to $425 million.

The SoftBank Vision Fund led the round with participation from existing investors, including Sequoia China, Matrix Partners, TCV, and OurCrowd.

This represents the largest financing in the global travel activities and services industry, Klook claimed.

The firm has become the most searched travel activities and services company on Google in just four years.

Klook’s trip bookings on mobile devices tripled and accounted for more than three quarters of the total last year.

Tis came as it expanded its global reach into Australia, Europe and the US.

Klook also forged global partnerships with Shangri-La Hotels and Rail Europe.

The additional funding will enable the company to expand into new countries and grow in Asia, with a focus on Japan ahead of the 2020 summer Olympic Games in Tokyo.

CEO and co-founder Ethan Lin said: “Our vision is to bring the world closer together by connecting the best of what a destination has to offer with travellers from all over the globe.”

Lydia Jett, partner at Japan-based SoftBank Investment Advisers, said: “We believe Klook is a leader in taking a mobile-first approach to the travel activities and services industry.

“The company has seen great success in scaling its business across different geographies and cultures, and we are excited to help them drive further innovation in the global travel industry.”

TRAV6

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