Indonesian travel tech unicorn Traveloka is said to be in talks to raise USD 500 million in fresh funds that could close in the next two months, as reported by The Wall Street Journal.
This new investment could value Traveloka at USD 4.5 billion, according to the report. The company is said to utilize the fresh funds to expand its services in the region.
Traveloka, which counts global travel company Expedia Group Inc., Chinese e-commerce giant JD.com Inc. and venture-capital firm Sequoia Capital among its investors, is looking to raise $500 million in its latest funding round, the people said.
Traveloka is currently available in Indonesia, Thailand, Vietnam, Malaysia, Singapore, and the Philippines. The company claims that its app has been downloaded more than 40 million times and that it has partnered with over 100 domestic and international airlines.
Traveloka is growing beyond its core hotel and flight booking business. In June, the firm launched a sub-brand called Xperience which allows users discover and book travel and lifestyle-related activities, ranging from travel tours, salons and spas, event and film tickets, to various courses and workshop recommendations.
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