Home > Online > Another boost for tours and activities as Klook attracts $5m in funding

Another boost for tours and activities as Klook attracts $5m in funding

10/16/2015| 11:56:55 AM| 中文

Tours and activities startup Klook has secured $5 million in Series A funding in a round led by Matrix Partners.

Additional participants in the Hong-Kong based business include China Growth Capital and Francis Leung of CVC Capital.

Klook, (Startup pitch here), gained initial funding of $1.5 million earlier this year in a round led by Tencent’s Wu Xiaoguang.

A statement from the company says the funds will be invested in enhancing technology and further expansion to increase destinations as well as activities.

Marketing efforts will also be stepped up to increase brand awareness and funds will also be diverted to campaigns with partners.

Klook has also gained two new strategic advisers – Agoda managing director Wilfred Fan and former China National Tourism Administration vice chairman Hu Shuren, who have joined to help grow the business rapidly in Asia.

Recent milestones for the company include the launch of its mobile application in May and it is also in the process of setting up an office in Singapore to act as regional HQ for Southeast Asia.

A report just released by Phocuswright on prospects for the tours and activities sector shows China and Chinese travellers leading the way in terms of online planning and booking of tours as well as use of smartphones for both research and booking.

Klook claims it already has a leading position in the sector in Asia although it will have to contend with competition from the likes of online giant Ctrip which has demonstrated its desire to grow in the sector via an enhanced ‘Things To Do’ channel on its website.

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TAGS: Klook | destinations | financing
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