Traveloka has announced that it has secured US$250 million from undisclosed investors in order expand its operations. Already existing investors like East Ventures also patronized the round of funding.
Headquartered in Jakarta, Indonesia, the eight year old startup has grown to be Southeast Asia’s largest online travel app. Traveloka boasts of more than 60 million downloads.
However, the company’s operations just like any other in the travel and hospitality industry was heavily floundered by the advent of the coronavirus pandemic as many countries was forced to shut than impose strict restrictions with some even closing down its external borders.
Nonetheless, the CEO and founder of the company, Ferry Unardi reports that it “was seeing an encouraging recovery across its key markets” due to the easing of domestic restrictions in some countries it operates in.
“Our business in Vietnam has returned to 100% pre-COVID-19 level and Thailand has surpassed 50% pre-COVID-level,” he added.
He pointed out that both Indonesia and Malaysia were also seeing “strong week-to-week improvement”.