Travel e-commerce company Venture Republic Group has acquired Flocations, a Singapore-based travel website backed by telecommunications company Singapore Telecommunications, for an undisclosed sum, Tech in Asia reported yesterday.
The acquisition of Flocations will enable Japan-based Venture Republic to expand into Southeast Asia. Flocations has built a database containing more than 80 travel agencies, as well as a chat and booking platform through which travellers can book tour packages offered by the agencies.
Flocations was founded in 2012 when it graduated from the incubator run by accelerator JFDI Asia, receiving a $12,000 initial investment in the process. SingTel Innov8, the corporate venturing arm of Singapore Telecommunications, was a lead sponsor of the programme.
The company secured S$700,000 ($570,000) in seed funding from SingTel Innov8, TNF Ventures and angel investor Ben Ball later the same year.
Venture Republic operates two travel business brands, Travel.jp and Hotel.jp, which offer hotel searches and reviews as well as destination guides. The group sold its comparison shopping brand to internet company Yahoo in 2013.