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Klook Raises US$200 mn to Fuel Progress in its Global Travel Platform

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Published on : Aug 08, 2018

The Hong Kong-based startup which is developing a travel activities platform has recently raised about US$200 mn in the form of new capital. The company plans to use this funding to stoke expansion of its travel platform mainly in the United States and Europe.

More Details about the Funds Raised by Klook

The company majorly focuses on ensuring smooth and streamlined booking of travel activities, comparable to how easy it is to arrange hotel accommodations and flights. With the money raised, Klook plants to enhance visits to adventure parks, scuba diving, localized tours, train travel, food provisions, and airport transfers. All these activities can be found, paid for, and availed using Klook’s platform.

As per the startup, Klook offers more than 50000 activities and services from about 5000 partners in over 200 destinations spread all over the globe. The company is expected to gross about US$1 billion in bookings in the current year. According to co-founder and COO Eric Gnock Fah of Klook, the company’s booking activities are a representation of a different kind of industry. And the value of this industry is soon expected to improve.

Klook is one of the best-funded travel-based startups, having raised plenty of capital over the past year or so. It closed a $30 million Series B deal in March 2017 before adding a $60 million Series C the following October. With the most recent round, its capital is now worth nearly $300 million. The four-year-old has been in expansion mode for the past year, having opened offices in London and Amsterdam. It also has been growing its headcount to 600 staff across 16 offices, predominantly in Asia. This indicates an increase of about 400 people across 13 offices until last October. With the currently raised amount, the company is now expected to set up an office in the States by the end of 2018.