Online travel services provider Expedia has invested $350m in Indonesia-based travel and accommodation booking platform Traveloka, taking its funding to $500m in the past year, the companies announced yesterday.
The $500m total consisted of two rounds, and the rest of the funding was supplied by e-commerce firm JD.com, hedge fund manager Hillhouse Capital and venture capital firms East Ventures and Sequoia Capital. Traveloka had not previously disclosed the other capital.
Founded in 2012, Traveloka provides travel booking services for customers in Indonesia, Thailand, Vietnam, Malaysia, Singapore and the Philippines, and serves more than 200,000 routes across the world.
The company also enables users to book short-term accommodation in hotels, apartments, guest houses, homestays, villas and resorts, and is forming a partnership with Expedia to cooperate on hotel supply. Its app has been downloaded more than 20 million times.
Dara Khosrowshahi, Expedia’s president and CEO, said: “Traveloka is the clear online travel leader in Indonesia, and is expanding aggressively throughout Southeast Asia. Our partnership will benefit from each side’s expertise and local knowledge, and accelerate our mutual growth.
“We are incredibly excited to continue to expand our presence in Asia, to learn from the talented Traveloka team and to unlock a more diverse offering of travel choices for Traveloka and Expedia travellers around the globe.”
Traveloka co-founder and CEO Ferry Unardi added: “Partnering with the world’s leading online travel company will allow us to focus on our continued growth in the online travel space to meet our goal of providing travellers the best travel options and highest quality booking experience.
“The expanded partnership gives Traveloka travellers access to a unique and diverse set of international accommodations and we are looking forward to working with Expedia to expand our services in Asia and beyond.”
The company has not revealed how much it had raised in earlier rounds, but East Ventures provided it with seed capital in 2012 before Global Founders Capital, the VC fund formed by the founders of e-commerce holding company Rocket Internet, added series A funding in 2013.