Klook, a Singapore-based provider of a platform for experiences and travel services, raised US$210M in funding.
The round was led by Bessemer Venture Partners, with participation from BPEA EQT, Asia investment funds Atinum Investment and Golden Vision Capital, and corporate investment arms from Southeast Asia, including Krungsri Finnovate (under Bank of Ayudhya), Kasikornbank Financial Conglomerate and SMIC SG Holdings. The round also included bank facilities from Citi, J.P. Morgan, and HSBC.
The company will allocate the new funds to three key areas for growth. Firstly, in product innovation, expanding its city pass offerings to enhance traveler convenience and savings. Secondly, by scaling social and digital marketing through the Klook Kreator program, driving conversions with authentic, social, user-generated content. Thirdly, by advancing innovation through continuous AI integration. The recent collaboration with Google Cloud will integrate Generative AI across the platform, covering automated translations, content generation, and customer service chatbot. The company will also collaborate with the new strategic investors in the region, to increase market share and boost growth, tapping into the fast-growing middle class in Southeast Asia.
Founded in 2014 and led by Eric Gnock Fah, Ethan Lin and Bernie Xiong, Klook provides a platform for experiences and travel services, which curates quality experiences ranging from attractions and tours to local transport and experiential stays, in over 2,300 destinations globally.
FinSMEs
07/12/2023