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Klook, the world's leading travel and leisure booking platform, raised US$200 million in additional funds to accelerate the development and launch of its merchant SaaS (software as a service) solution. These tools are designed to bridge the gap faced by businesses today and will enable any business to use Klook to build, manage and expand their business.
Despite the long-term lockdown, Klook still sees businessmen eager to digitize their business. At the peak of the COVID pandemic, Klook’s activities increased by 150% compared to the same period in 2019.
Klook's merchant SaaS solution has provided millions of bookings for more than 2500 merchants worldwide. By multiplying its SaaS solution, it is easy to create online storefronts supported by Klook, so that more merchants who have transformed during a difficult year can accelerate their business development. This is supported by back-end engines that manage ticketing, distribution, inventory management, marketing, etc.
The Series E financing was led by Aspex Management, an investment fund focused on the Asia-Pacific region, and other new investors. Existing investors Sequoia Capital China, SoftBank Vision Fund 1, Matrix Partners China and Boyu Capital also participated in this round of financing.
In the past year, Klook quickly redefined its core strategic advantages to deal with the impact of the pandemic on the business. The company focuses on two main areas-digitizing the experience booking department, and launching new vertical areas such as accommodation and car rental. Major markets where COVID-19 restrictions have been relaxed, such as Singapore, Hong Kong and Taiwan, have witnessed an increase in spending on local experiences. As locals begin to explore the country, bookings have reached pre-COVID levels.
Klook CEO and co-founder Ethan Lin pointed out: “Despite the challenging 2020, we have shown courage and transformed challenges into growth opportunities through agility and continuous innovation. Over the past year, we have observed consumers There is a suppressed desire. Despite the suspension of international travel, they still explore and enjoy themselves, instead turning inward-exploring new and unique experiences in the backyard.
"With the ubiquity of domestic tourism and the gradual return of international tourism, this new capital has further consolidated our leadership from defense to offensive."
Hermes Li, CIO and founder of Aspex Management, added: “There is no doubt that the travel industry has been hit hard by the pandemic. Despite market headwinds, Klook has shown resilience and adaptability. We believe that the transition to digital booking will only Speeding up development after COVID-19 and Klook’s ability to reinvent itself as a one-stop experience and service puts it at an advantage in taking advantage of this trend."
Eric Gnock Fah, chief operating officer and co-founder of Klook, said: “We are working to reimagine the next digital leap in the experience industry, which has traditionally been dominated by offline practices or traditional systems. Divide, can’t really solve the real problems of the post-COVID world From day one, Klook has been working closely with businessmen of different sizes to find out the pain points that can be solved together. With this new funding, we have additional Ammunition to accelerate our technological innovation, and truly achieve transformation and empower future growth."
In the second half of 2020, Klook tried a series of such tools.
• Contact Tracking System: This free-to-use system has been launched by partners in local attractions in the Philippines, and can be quickly identified and followed up when needed.
•Attractions Plus: Designed for attractions and large venues, this module allows customers to seamlessly access all the content they need in one application: from maps in the park, food, and recommended itineraries.
• Klook Live!: Interactive real-time streaming mobile function, users can experience merchants’ products up-close through entertainment and interactive instant video content. Early results observed that the conversion rate increased by an average of 4 times.
The company has also established stronger partnerships with tourism bureaus (such as the Hong Kong Tourism Board, Japan National Tourism Organization, Korean Tourism Organization, Singapore Tourism Board, and Thailand Tourism Board) to help diversify products and increase domestic demand. In Singapore, Klook was appointed by the Singapore Tourism Board as an authorized booking partner for SingapoRediscovers coupons (SRV) to stimulate domestic demand and revitalize the industry.
For more information
Klook's service is provided in 14 languages and supports 41 currencies. For more information, please visit
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