Traveloka, an Indonesia-based online travel booking platform backed by e-commerce group JD.com and travel services provider Expedia, today raised $250m in equity financing.
The round was led by an undisclosed financial institution that a DealStreetAsia source identified as Qatar Investment Authority, the country’s sovereign wealth fund.
Existing shareholders also contributed to the round, though only EV Growth was named. DealStreetAsia further claimed Singapore’s sovereign wealth fund GIC also took part and the returning backers provided just over $100m between them.
Bloomberg said earlier this month Traveloka was targeting a valuation of approximately $2.75bn, approximately 17% down on its previous round, but Traveloka did not confirm the figure.
Founded in 2012, Traveloka enables consumers to book flights, bus and train journeys, accommodation, meals and entry to local attractions. Users can also take out insurance policies and benefit from a travel credit card.
Traveloka is active in Australia, Indonesia, Malaysia, Thailand, Vietnam, the Philippines and Singapore.
The company has struggled during lockdowns but said some of its markets, most notably Vietnam, were slowly returning to pre-pandemic levels. The money will strengthen Traveloka’s balance sheet, support its financial services and allow it to expand its offering.
Traveloka was reportedly seeking $500m at a $4.5bn valuation in July 2019, however, this does not seem to have come to fruition. Its last confirmed round was a $420m investment from GIC in April 2019.
Expedia supplied $350m in 2017 when Traveloka also disclosed an earlier $150m round backed by JD.com, East Ventures, Sequoia Capital and Hillhouse Capital.
Global Founders Capital injected an undisclosed amount of series A capital in 2013, adding to an unknown amount of seed capital from East Ventures in 2012.
