Traveloka gets $500 million investment boost
Traveloka announced on Monday it raised US$500 million (Bt16.6 billion) through investments over the past year including from online travel leader Expedia.
The other investors are East Ventures, the Hillhouse Capital Group, JD.com and Sequoia Capital, the company said.
It said the investment by Expedia will deepen their existing partnership in hotel supply, allowing Traveloka to provide a greater selection of international accommodation to Southeast Asian travellers.
"Partnering with the world's leading online travel company will allow us to focus on our continued growth in the online travel space to meet our goal of providing travellers [with] the best travel options and [the] highest quality booking experience," said Ferry Unardi, co-founder and chief executive of Traveloka, in a statement.
"The expanded partnership gives Traveloka travellers access to a unique and diverse set of international accommodations and we are looking forward to working with Expedia to expand our services in Asia and beyond."
Traveloka said Expedia’s latest investment “affirms the scale of and [the] surging international interest in the Asia Pacific travel sector”.
It said Southeast Asia is expected to reach $83 billion in tourism receipts this year, according to Asean.
