Indonesia’s online travel startup Traveloka in talks to raise US$400M, says report | Digital Asia
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The money will be used to push beyond traditional airline tickets and hotel bookings into activities for travellers like concerts or amusement parks
Jakarta-based online travel startup Traveloka is in talks with existing and new investors to raise about US$400 million in funding, says a Bloomberg report citing multiple people privy to the development.
The company intends to use the capital to “push beyond traditional airline tickets and hotel bookings into activities for travellers like concerts or amusement parks”, according to this report.
When contacted, a Traveloka spokesperson said: “At this moment we cannot make a confirmation because as part of our corporate policy, we do not comment on rumor or speculation in the market. We will give updates at the soonest if we have new information.”
Over a year ago, global online travel agency Expedia infused US$350 million primary minority investment into Traveloka. Its other investors are East Ventures and Global Founders Capital.
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It has established partnerships with more than 100 domestic and international airlines, serving more than 200,000 routes worldwide, according to its website. It also has a direct accommodation inventory, varying from hotels, apartments, guest houses, homestays, to villas and resorts.
Traveloka provides more than 40 payment options for customers in Indonesia, Thailand, Vietnam, Malaysia, Singapore and the Philippines. Its app has registered over 30 million downloads so far.
Last May, the startup launched several new features, including car rental services. It already provides Traveloka Eats, and lending service PayLater.
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