Home Startups SoftBank bets on Asia's travel market with US$$225M investment in Klook

SoftBank bets on Asia’s travel market with US$$225M investment in Klook

Posted on:

READING TIME: < 1 min read

- Advertisement -

Hong Kong-based travel services booking platform, Klook, announced earlier today that it has secured US$225 million in a series D+ round, adding up to its total Series D round at US$425 million.

This new round of funding will give the company the firepower to compete with rivals in Asia’s fast-growing activities booking market. The deal which is described as a “Series D+” came just eight months after Klook announced its US$200 million Series D at a valuation of over US$1 billion.

Founded in 2014, the company offers online booking services for local tours and other activities, a fast-growing segment of the travel industry that has yet to be dominated by the major online travel agents. Klook claims to provide 100,000 activities across more than 270 destinations. Its team has grown to over 1,000 staff with 20 offices, including sites in Europe and the States.

This global market is projected to grow nearly 50% from 2015 to be worth US$183 billion in 2020, according to Phocuswright.

The company also claims that this round is the most massive investment in the travel services industry and it intends to use the investment to scale its operations geographically and continue growing its business in its existing markets in Asia. One key focus is in Japan, where the company will increase its investments in Tokyo, in anticipation of the 2020 Summer Olympics.

This new round means that Klook has now raised a total of US$425 million. Its investors include Sequoia China, Matrix Partners, Goldman Sachs, OurCrowd, Boyu Capital, Technology Crossover Ventures (TCV) among others.

Felicia Calle
Felicia Calle
Australia | Felicia's fascination with tech began in the 90s, and she loves to update readers on the best tech deals on the internet. When she’s not writing, you’ll find her travelling around the world.

Related Reads

Featured Read

The new ZOWIE S Series: eSports-focused mice with adjustable DPI and report rate

The ZOWIE's newest S Series features the S1 and S2 gaming mice that are designed and built for eSports players who are...

 Submit a Story

Do you have a story to share? We will help you inspire, connect, and celebrate with our thoughtfully vibrant community. Click here to find out more!

- Advertisement -

 Latest Stories

Top picks: The best dehumidifier in Singapore for 2020

A dehumidifier is what you need to combat the high humidity in Singapore due to its constant rainy weather and high temperature....

The best gaming keyboard for 2020: Mechanical, optical switch, wireless and RGB

A fast-response gaming keyboard is what will set you apart from thousands of other gamers online. You might not think that it's...

Top 5 HEPA air purifiers you can get in Singapore for 2020

Picking the best air purifiers to keep your home clean might not be too difficult, but ensuring that you get something that's...

Japan to have a new Evangelion-themed train

Japan will have yet another Evangelion train! Back in 2015, Japan first launched its Neon Genesis Evangelion bullet train,...

Fantech launches its esports-focused gaming peripherals in Singapore

Fantech announces that they are expanding their line to cater to game enthusiasts in Singapore.  The leading brand specializes in gaming gear and accessories...

Send this to a friend