JAKARTA. Traveloka, an online travel agent (OTA) start-up, will focus on its primary business line following its success on scoring funding of USD 300 million or equal to IDR 4.5 trillion.
The source from Traveloka reveals that said fresh funds will be spent on strengthen the financial balance. “This funding allows us to reinforce our financial balance and keep focusing on our core business and establish future business prospects,” the source explained, as quoted in Bisnis yesterday (29/9).
Several investors that participate in this round of funding include Indonesia Investment Authority (INA), BlackRock (through its private equity), Allianz Global Investors, Orion Capital Asia, and other renowned global financial institutions.
CEO of INA, Ridha Wirakusumah, sees that the travelling sector is now equipped with unmatched ease and access, and the OTAs are the ones that change up the landscape of this industry throughout the COVID-19 pandemic era. In the official disclosure yesterday (29/9), she mentions how OTA increases gross tourism order of Indonesia from 24% prior to the pandemic to 33% in 2021, even aiming for 36% in the future.
BlackRock and Allianz Global also believe that Traveloka is the current strongest leader in the OTA industry in Southeast Asia, the region that has always been the most popular travel destination in the world. (AM/ZH)