Indonesian unicorn Traveloka is going to raise $500 million in fresh funding, which could value the organization at as much as $4.5 billion, as per an article in the Wall Stree Journal.
The report further added that the amount will be utilized to fuel Traveloka’s expansions in the region, can close in the subsequent two months. In April, it has been reported that the Southeast Asian online travel foremost bagged $420 million in financial support from Singapore sovereign subsidize GIC in a bid to turn into the supper travel app of the regions. In the meantime, another report on The Information state the GIC round can drive Traveloka’s valuation to $4 billion.
The Jakarta-based organization had in 2017 attained a whole of $500 million from Chinese e-commerce giant JD.com, East Ventures, American Travel Group Expedia, Hillhouse Capital, and Sequoia Capital.
Recently operating in Thailand, the Philippines, Malaysia, Singapore, and Thailand in addition to its home market, the corporation earlier introduced services in Australia as its initial expansion outside Southeast Asia. Moreover, it has an R&D centre in India.
In order to make its presence strong in the regional market, it has even acquired startups in different countries, such as PegiPegi in Indonesia, MyTour in Vietnam, and Philippines-based TravelBook. It even invested in some other countries, including insuretech startup PasarPolis and event solutions startup PouchNATION.
Commenced in the year of 2012, Traveloka could also be categorized as the foremost unicorn to list on Indonesia Stock Exchange, as per I Gede Nyoman Yetna, bourse’s listing director, who mentioned that Traveloka executives have been communicating a potential IPO.
With an aim to become a fantastic application of the travel sector, Traveloka has ramped up its tours & activities offerings, and introduced food and lifestyle services, from tickets fro attractions, massage, spa, beauty service, massage, film tickets to sports tickets and music.
The super application game has observed massive piles of money being poured into Southeast Asian app-based organizations. The Japanese giant said that it will aid Grab to build second headquarters in Jakarta, as it is deciding to invest $2 billion in Indonesia from the capital it has raised from SoftBank.