[Funding alert] Travel activities startup Klook raises $225M led by SoftBank Vision Fund
With this fresh influx of capital, Klook will be looking to scale its operations into newer geographies and also expand in its existing Asian markets.Sutrishna Ghosh
Klook, a travel activities and services booking platform, confirmed on Tuesday that it has raised $225 million in a 'Series D Plus' round led by SoftBank’s Vision Fund. The latest fund-raise takes the company’s total Series D funding to $425 million.
Apart from the Japanese investment major, the funding round also saw participation from existing investors including Sequoia Capital China, Matrix Partners, TCV, and OurCrowd. Prior to this Series D Plus funding, media reports claimed that the Hong Kong-based company had raised $200 million in Series D led by Sequoia China and Boyu Capital.
With this fresh influx of capital, Klook will be looking to scale its operation into newer geographies and also expand its base in the existing Asian markets. Given the prime position of Japan – headquarter of the SoftBank Group and one of Klook’s important markets – the company will be aiming to increase its investments in the country, especially ahead of the upcoming Summer Olympics in Tokyo.
The timing also offers an opportunity for Klook to better serve both inbound and outbound visitors around the time, by expanding into additional Japanese cities.
Commenting on the latest development, Ethan Lin, Co-founder and CEO of Klook, said,
“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.”
As Eric Gnock Fah, Co-founder and COO of Klook, added: “This latest investment is a true testament to the progress made by the Klook team in building the world’s Number one Super App for all in-destination needs.”
Founded in 2014, Klook offers travellers a seamless experience of booking popular attractions, tours, local transportation, and discovering the best foods around the world through its website and app. The platform leverages innovative technologies and offers the services in nine languages.
“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,” added Lydia Jett, Partner at SoftBank Investment Advisers.