Klook secures USD200 million in funding
Tours and activities platform Klook has bagged US$200 million in additional funding which it plans to use to advance its merchant SaaS solutions.
This will help more tour companies and activities operators digitize their product offerings.
Investment firm Aspex Management led the latest funding round, which included existing investors Sequoia Capital China and Softbank Vision Fund 1.
Klook has raised a total of US$720 million since forming seven years ago.
"The travel industry has undoubtedly been hit hard by the pandemic, but Klook has shown resilience and adaptability despite the market headwinds. We believe the transition toward digital bookings will only accelerate post-Covid-19," said Hermes Li, CIO and founder of Aspex Management.
Klook says its priorities now are digitising the experiences sector and rolling out new products such as staycations and car rental, with the industry still restricted to mostly domestic travel.
"We’ve observed over the past year that consumers have a pent-up desire to explore and enjoy themselves, despite international travel being paused. Instead, they are turning inwards exploring right in their backyard," said Ethan Lin, CEO and Co-founder at Klook.
The company has partnered with the Hong Kong Tourism Board, Singapore Tourism Board, and the Tourism Authority of Thailand to boost domestic travel.
Written by Ray Montgomery, Asia Editor
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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