Softbank and Others Pour $225 Million in Series D+ in Klook
One of the leading travel activities and services booking platforms in the world, Klook receives series D+ funding of $225 million from SoftBank Vision Fund and other existing investors including Sequoia China, Matrix Partners, TCV, and OurCrowd, bringing the total series D funding to $425 million. This funding will be one of the largest financing in the global travel activities and services industry. Klook will use the fund to expand into new geographies and strengthen its current Asian markets.
Ethan Lin, Co-founder & CEO, Klook, comments, “Our vision is to bring the world closer together by connecting the best of what a destination has to offer with travelers from all over the globe”. This Hong Kong-based company has become the most searched travel activities and services companies on Google and last year the company expanded its reach into Australia, Europe and the US. Klook also partnered with Shangri-La Hotels and Resorts, Asia Pacific’s Luxury hotel group, and Rail Europe, a leading distributor of European rail products, with an objective to expand its operations. As 2020 Summer Olympics is scheduled to happen at Japan, the company plans to strengthen the investments in Japan in order to serve inbound and outbound visitors.
Commenting on the investment, Lydia Jett, Partner, SoftBank Investment Advisers, says,”We believe Klook is a leader in taking a mobile-first approach to the travel activities and services industry. The company has seen great success in scaling its business across different geographies and cultures, and we are excited to help them drive further innovation in the global travel industry”.
Klook is one of the world's leading travel activities and services booking platform dedicated to giving travelers a simple, fast and convenient access to popular attractions, experiences and services so they can discover the sounds, colors, and tastes of places around the globe. In more than 270 destinations, the company helps countless travellers with more than 100,000 offerings at their fingertips. Klook has over 20 offices and its services are available in nine languages, supporting 41 currencies in Asia. With the rise of smartphone usage among the people, Klook saw huge success in its mobile-first strategy and in 2018, the trip bookings on mobile devices tripled with over 75 percent of the bookings coming from mobile. The company aims to keep the current thrust with triple-digit growth in bookings.
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