SoftBank Vision fund completes Klook’s USD425m Series D funding

- A Monitor Desk Report 10 Apr, 2019 | 873 Views|-+
Dhaka: Klook has raised USD225 million in a series D+ funding from Japan’s SoftBank Vision completing its total Series D round of USD425 million, announced the Hong Kong-based travel services booking platform on April 9.

Besides SoftBank Vision, the existing investors are Sequoia China, Matrix Partners, TCV, and OurCrowd.

The company claimed in a statement that this round represents the largest investment in the travel services industry. Co-founder and COO Eric Gnock Fah said that Klook’s already expansive reach helped attract investors to the company.

Klook plans to use proceeds to scale its operations geographically and continue growing its business in its existing markets in Asia. Hence, the company is looking to develop more services and spend more on Klook’s branding and awareness, Gnock Fah added.

The company, which lets tourists book activities at their destination of choice, said it will increase its investments in Tokyo in anticipation of the 2020 Summer Olympics, which will be held in the city. It also aims to further expand into additional cities in Japan.

Klook is already the leader in its niche in the Asian market. It wants to expand its reach in Europe and the Americas. Destinations in that part of the world have become increasingly popular to the Asian audience, according to Gnock Fah.

The company remains true to its roots since mobile bookings continue to make up the majority of Klook’s transactions.

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