Singapore’s sovereign wealth fund GIC led a funding round with Traveloka, an online travel agency from Indonesia. The online travel unicorn has raised US$420 million in funding.
- This announcement was following after a Bloomberg report citing multiple people privy to the development of talks to raise US$400 million in late last year.
- The company plans to use the investment to push beyond traditional airline tickets and hotel bookings into activities for travelers like concerts or amusement parks.
- More than a year ago, global online travel agency Expedia invested US$350 million primary minority investment into Traveloka. Its other investors include East Ventures and Global Founders Capital.
- Traveloka provides flights, hotels, and trains booking services, besides offering tour packages for attractions and activities.
- The company has established partnerships with over 100 domestic and international airlines, serving more than 200,000 routes worldwide.
- It also has a direct accommodation inventory, ranging from hotels, apartments, guest houses, homestays, to villas and resorts.