Singapore-based online travel services provider Wego has received an amount of funding reported by Arab News to be $12m from broadcaster MBC Group.
Founded in 2005, Wego operates a flight and hotel booking platform that targets Middle East-based customers. MBC made the investment as part of a strategic partnership that will involve Wego’s apps and website will be advertised across its platforms.
News Digital Media, a subsidiary of media group News Corp, invested in Wego, then still known as Bezurk.com, in 2008, before investment firm Tiger Global Management added an undisclosed amount in 2010.
Crescent Point led a $17m series C round for Wego in 2013 that included Tiger Global and Victoria Capital which the company said increased its total funding to $36m.
Ross Veitch, co-founder and CEO of Wego, said:“We are thrilled to welcome MBC Group as a strategic partner and excited by the opportunities to grow and develop the Wego brand while leveraging MBC’s huge audiences as well as their considerable brand building expertise”.
“As we incorporate more video based editorial content and product merchandising to Wego’s online travel marketplace there is obvious crossover potential between MBC’s programming and Wego’s online services. We look forward to exploring those opportunities together”.