Traveloka, the Singapore-based online travel booking platform developer backed by travel services provider Expedia and e-commerce group JD.com, is in discussions with investors to raise $500m, the Wall Street Journal reported today.
The prospective round would value the company at $4.5bn, according to people familiar with the matter. It is expected to close in the next two months, with the cash to support international growth.
Founded in 2012, Traveloka operates an online platform that enables users to book flights, bus and train journeys, hotels and other short-term accommodation, meals and tickets to local attractions.
The company’s most extensive offering is available in Indonesia, but it also operates in Singapore, Thailand, Vietnam, Malaysia and the Philippines. Its app has been downloaded a total of more than 30 million times.
The round would follow the $420m Traveloka received from investors including Singaporean sovereign wealth fund GIC in April 2019. Expedia had invested $350m in the company in mid-2017 at a $2bn valuation.
Expedia’s investment was announced alongside a previously undisclosed $150m round that included JD.com, venture capital firms East Ventures and Sequoia Capital and hedge fund manager Hillhouse Capital.
East Ventures had already supplied an undisclosed amount of seed capital for Traveloka in 2012, the year before VC firm Global Founders Capital provided an undisclosed amount of series A funding.
