Traveloka, the Singapore-based online travel booking service that counts corporates JD.com and Expedia as investors, has raised $420m in funding, DealStreetAsia reported today, citing a person familiar with the matter.
The capital was provided by Singaporean sovereign wealth fund GIC and undisclosed existing investors. The Information reported in October 2018 that Traveloka was planning to raise $400m at a valuation of about $4.1bn, but the company has not confirmed that figure.
Traveloka’s online platform enables customers from six Southeast Asian countries to book flights from more than 100 air carrier partners as well as trains, buses, holiday accommodation, car rental and tickets to local attractions.
The company is looking to expand into adjacent activity areas such as cinema ticketing and bookings for restaurants, spas and beauty treatments, Skift reported this week. The funding comes in the wake of an entry into Australia and the acquisition of three travel platforms from Recruit Holdings in 2018.
Travel services provider Expedia provided $350m of funding for Traveloka through a mid-2017 investment that valued it at $2bn, after e-commerce firm JD.com, Hillhouse Capital, East Ventures and Sequoia Capital had supplied $150m over the preceding months.
Traveloka had previously raised undisclosed sums from East Ventures in 2012 and Global Founders Capital, in the form of a series A round the following year.
