May 8, 2018
Indonesian travel platform Travelio has secured a Series A financing of $4 million in a round led by Vynn Capital, the startup has announced in a statement.
Also joining the oversubscribed round were Insignia Ventures Partners, Fenox Venture Capital, IndoGen Capital and Stellar Capital.
“The team’s understanding of the emerging trends of the travel and hospitality industry has allowed the company to grow and gain support from existing players. At this stage, we also welcome any property players looking to utilize innovation as a main driver for growth through potential collaborations with us,” said Vynn Capital Managing Partner Victor Chua, who is a former Vice President of Travelio’s previous lead backer, Gobi Partners.
Founded by Hendry Rusli, Christina Suriadjaja and Christie Tjong in 2015, Travelio was launched as a platform where travelers can search through a wide range of accommodation including apartments, villas, houses, and hostels. Users can set their own rates and send personalized offers to property owners.
The Jakarta-based company now has more than 4,000 listings on its platform and hosts a team of more than 80 employees.
With the new set of investors and fresh funds, Travelio says its near term priorities are growth acceleration, talent acquisition, product innovation, and new verticals.
Travelio developed Indonesia’s first VR camera based instant monthly booking platform that brings all the offline tenant experiences transparently online. This has simplified the process of renting a property, such as viewing, appointment management, negotiations, paperwork and payments.
In Indonesia, it competes in an industry currently still dominated by unicorn Traveloka, with other sites like PegiPegi and AiryRooms also fighting for the travel market pie.
Travelio’s raised its pre-series A funding round at $2 million in 2016. It used the proceeds to expand accommodation offerings, product development, widen market reach, and increase new hires.
Read more at: https://www.dealstreetasia.com/stories/97375-97375/