KKday announces new financing round led by LINE Ventures and Alibaba
KKday is set to grow its operations in Japan, China and Korea, and expand into new markets including Europe, Australia and New Zealand, and the U.S.A.
KKday, one of Asia’s leading tours and activities ecommerce platforms, announced today its Series B+ funding co-led by LINE Ventures and the Alibaba Entrepreneurs Fund. Existing investors, including CDIB Capital and Monk’s Hill Ventures, also participated with follow-on investments. The strategic funding will accelerate KKday’s efforts to leverage innovative technologies in travel bookings and experiences, and further its global expansion into new markets.
Starting with its last round of investment, led by Japanese travel giant H.I.S., KKday has been deepening its partnerships with strategic investors to provide travelers with more in-depth and seamless travel experiences.
This new financing round led by LINE Ventures demonstrates a new angle to the continued strategic investor approach. As one of the world’s leading mobile messaging and technology companies, LINE Corporation provides its users with an integrated platform that features convenient daily life services, including mobile payment, retail shopping and news broadcasts.
Mingming Chen, Founder & CEO, KKday
The two parties will begin their first strategic collaboration later this month in Taiwan when LINE launches “LINE Travel,” a comprehensive in-app service that enables users to search and book flights, hotels, tours and activities, as well as to plan and share their itineraries with friends.
According to KKday, more global collaboration with LINE is in the pipeline.
Earlier this July, KKday announced financing from Alibaba Entrepreneurs Fund and launched a flagship store under Fliggy, Alibaba Group’s travel portal in China. Within less than four months, Alibaba witnessed the rapid growth of the business and the great potential of the company, thus increasing its investments in KKday.
With this latest infusion of capital, KKday is set to grow its operations in Japan, China and Korea, and expand into new markets including Europe, Australia and New Zealand, and the U.S.A. According to KKday, the investment details will remain undisclosed.
Last July, KKday raised an undisclosed round of funds from the Taiwan branch of Alibaba’s Entrepreneur Fund, in the wake of a USD 10.5 million Series B raised in early February, from backers including Japanese travel agency H.I.S. and MindWorks Ventures.
The tours and activities segment has attracted a lot of attention since last year with a total financing amount reaching USD 200 million. KLOOK, a world-leading full-service in-destination booking platform, announced it has closed USD 200 million in Series D funding last August. Last year, KLOOK secured USD30 million in series B round in March and USD 60 million in series C financing round in October. Online tour-booking platform BeMyGuest headquartered in Singapore received a total equity funding of S$11.5 million at the close of its Series A round of funding in July last year.