Vacation rental platform AsiaYo raises $7 million from Alibaba fund and others
The money will aid the company’s expansion into Singapore and Malaysia, according to Tech in Asia.
Taiwan-based AsiaYo has reportedly raised USD 7 million to take on Airbnb and the hotel industry in Asia. The Series B was led by Alibaba Taiwan Entrepreneurs Fund and will aid the company’s expansion into Singapore and Malaysia, according to Tech in Asia.
Currently AsiaYo, which was founded in 2013, operates in 60 cities in Thailand, Hong Kong, Korea, Taiwan, and Japan, according to its site (accessible in English, Mandarin (traditional), and Korean). AsiaYo has more than 60,000 rooms listed and has accumulated more than 600,000 bookings.
It acquired an official license to operate in Japan as of August 2018, after the Minpaku Law, which regulates private lodging, went into effect. AsiaYo’s strategy in Japan is to partner with large professional minpaku management consulting firms, according to a company statement.
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