Traveloka reportedly seeks US$500M fresh funding

Indonesian traveltech unicorn Traveloka is said to be in discussion to raise a new funding round. The company aims to secure up to US$500 million or around IDR7 trillion, bringing its valuation to US$4.5 billion.

Reported by WSJ, the information included Traveloka’s plan to increase its regional expansion effort. There is no information yet on the identity of participating investors; the funding round is expected to be closed within the next months.

Report on the company’s latest funding round circulated in April. It entailed a private equity round led by GIC, which is said to value around US$450 million. There is a possibility that the US$500 million figure was also part of this funding round.

Traveloka’s fundraising efforts have been widely reported since last year, in which the company was said to aim for US$400 million.

Founded by Ferry Unardy, Derianto Kusuma, and Albert Zhang, Traveloka has offered its services in various countries. Apart from Indonesia, markets such as Thailand, Vietnam, Malaysia, Singapore, the Philippines, and Australia have become their focus recently.

It has also been pushing for its new service Xperience. In addition to facilitating transportation services, the company also aims to maximise the experience of travelling itself. Last month, Traveloka led a Series B funding round for PouchNATION. The move was said to be part of its strategy to disrupt the entertainment industry through integration of the two platforms.