Indonesia’s online travel startup Traveloka in talks to raise US$400M
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Jakarta-based online travel startup Traveloka is in talks with existing and new investors to raise about US$400 million in funding, 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.
Traveloka provides services including flights, hotels and trains booking services, besides tour packages for attractions and activities, connectivity products, airport transports, and buses.
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.
Questions & Answers
Q.What is Traveloka's primary reason for seeking this new funding?
What is Traveloka's primary reason for seeking this new funding?
The company intends to use the capital to expand its offerings beyond traditional airline tickets and hotel bookings. It plans to include activities for travellers, such as concerts or amusement parks, with the new investment.
Q.Who are Traveloka's current investors, according to the article?
Who are Traveloka's current investors, according to the article?
Expedia previously made a significant primary minority investment in Traveloka over a year ago. Also, East Ventures and Global Founders Capital are also listed as investors in the company.
Q.Which countries currently have access to Traveloka's payment options?
Which countries currently have access to Traveloka's payment options?
Customers in Indonesia, Thailand, Vietnam, Malaysia, Singapore, and the Philippines can currently use Traveloka's services. The company provides more than 40 payment options tailored for these specific markets.
Q.What services does Traveloka already offer besides flights and accommodation?
What services does Traveloka already offer besides flights and accommodation?
Traveloka offers tour packages for attractions and activities, connectivity products, and airport transports. It also provides buses, car rental services, Traveloka Eats, and a lending service called PayLater.