klook travel technology pte ltd singapore

KLOOK TRAVEL TECHNOLOGY PTE. LTD.

• 1. Business Overview
• 2. Office Location
• 3. Competitor
• 4. Register Information

KLOOK TRAVEL TECHNOLOGY PTE. LTD. (UEN ID 201604352Z) is a corporate entity registered with Accounting and Corporate Regulatory Authority . The incorporation date is February 22, 2016 . The entity status is Live Company .

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Klook Travel Technology Pte. Ltd.

Country: Singapore

Website: https://www.klook.com/

KLOOK TRAVEL TECHNOLOGY PTE. LTD.

KLOOK TRAVEL TECHNOLOGY PTE. LTD.

13 HONG KONG STREET# 059656

KLOOK TRAVEL TECHNOLOGY PTE. LTD. (201604352Z)

KLOOK TRAVEL TECHNOLOGY PTE. LTD. is a Singapore PRIVATE COMPANY LIMITED BY SHARES . The company was incorporated on 22 Feb 2016 , which is 8.5 years ago. The address of the Business's registered office is 63 ROBINSON ROAD, #06-03, AFRO-ASIA, Singapore 068894 . The Business current operating status is Live Company . The Business's principal activity is TRAVEL AGENCIES AND TOUR OPERATORS (MAINLY INBOUND) . (eg TRAVEL AGENCY). The Business's secondary activity is BUSINESS REPRESENTATIVE OFFICES . (eg PROVIDING BUSINESS SUPPORT AND SERVICES FOR KLOOK-HK). The company's paid-up capital is SGD 4,200,000. The company UEN is 201604352Z , registered with ACRA on 2016-02-22.

Corporate Profile

• Entity Name KLOOK TRAVEL TECHNOLOGY PTE. LTD.
• UEN 201604352Z
• Registration Incorporation Date 2016-02-22
• Company Type Description PRIVATE COMPANY LIMITED BY SHARES
• Entity Status Description Live Company
• Entity Type Description Local Company
• Paid Up Capital 4200000 SGD

Contact Information

• Bussiness Address 63 ROBINSON ROAD #06-03 AFRO-ASIA Singapore 068894

Company Industry

• Primary Ssic Description TRAVEL AGENCIES AND TOUR OPERATORS (MAINLY INBOUND)
• Primary User Described Activity TRAVEL AGENCY
• Secondary Ssic Description BUSINESS REPRESENTATIVE OFFICES
• Secondary User Described Activity PROVIDING BUSINESS SUPPORT AND SERVICES FOR KLOOK-HK

AMERICAN PACIFIC (PRIVATE) LIMITED.

63 ROBINSON ROAD

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Yahoo Finance

Softbank-backed klook snags $210 million in travel bounceback.

By Olivia Poh

(Bloomberg) — Booking service Klook Travel Technology Ltd. raised $210 million in a funding round led by Bessemer Venture Partners, seeking to expand its footprint as travel recovers following the pandemic.

Private equity firm BPEA EQT and SMIC SG Holdings participated, the Hong Kong-based startup said in a statement on Thursday. Existing investors including HongShan — formerly Sequoia China — also took part in the Series E+ round that consists of a mix of equity financing and bank facilities, bringing the total raised by the startup to more than $900 million.

Klook, which turned cash flow positive mid-2023, is “well prepared” to go public either in the US or in Hong Kong, co-founder and Chief Operating Officer Eric Gnock Fah said in an interview.

The Softbank Group Corp.-backed startup helps travelers book activities like its larger peer Expedia Inc. Klook’s revenue has picked up after the lifting of Covid restrictions unleashed pent-up demand for travel.

One of its growth pockets is helping millions of consumers in Asia book travel online for the first time, Gnock Fah said. It’s banking on an outsized boost for travel demand in Asia, predicting a decline in prices next year as flight capacities increase.

“Asia is on an upward trend,” Gnock Fah said. “There’s still so much market growth that will still be happening in Asia. It could see double the growth of the West.”

Founded in 2014, the startup allows travelers to discover and book tours, local transportation and restaurants in more than 2,300 locations globally. Klook, which first rolled out in Asia, competes with a growing number of experience booking services, including Airbnb Inc., TripAdvisor Inc. and Expedia.

©2023 Bloomberg L.P.

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Klook secures $210 mil for expansion and innovation in travel tech

Klook completes a significant $210 million funding round, enhancing its digital travel offerings amid Asia’s post-COVID recovery.

SINGAPORE – Klook announced that it has successfully completed a US$210 million financing, supporting business growth and fortifying financial stability. The equity round is led by Bessemer Venture Partners , with participation from BPEA EQT , Asia investment funds Atinum Investment and Golden Vision Capital , and corporate investment arms from Southeast Asia, including Krungsri Finnovate (under Bank of Ayudhya), Kasikornbank Financial Conglomerate and SMIC SG Holdings. The round also includes bank facilities from Citi, J.P. Morgan, and HSBC.

For many Asian markets, 2023 marks the first year of travel recovery with a notable rebound in tourism figures and a gradual recovery in flight capacities. Despite this early stage in market recovery, Klook has demonstrated remarkable business success, surpassing previous milestones with a threefold increase compared to 2019 and boasting an annualized gross booking value of US$3 billion. Notably, the company also achieved overall profitability for the first time earlier this year.

Ethan Lin , CEO and Co-Founder, credits this accomplishment to the collective efforts of the team in establishing the groundwork for the post-COVID era of travel. “ During the pandemic, we doubled down on our resources in merchant digitization and the expansion of our supply network, including car rentals and outdoor experiences. This positions us strongly to capture new travel trends coming out of the pandemic ,” said Lin.

The company’s success is further underscored by its increasing brand strength, strategically building on and leveraging its app-first approach to both acquire and retain customers, with over 80% of bookings made through mobile today. Impressively, the influx of new customers acquired in 2023 more than doubled that of 2019, while repeat customers contributed to over half of the total bookings, demonstrating the sustained customer loyalty fostered by the platform.

“ Leveraging strong business fundamentals that led to significant growth in revenue and profit this year, including a threefold increase in productivity (revenue per headcount), we are set for a new phase of sustainable expansion. With Asia in the early stages of post-COVID recovery, upcoming global events like the Paris Olympics 2024 and Osaka World Expo 2025, along with rising expenditures and digital adoption, the industry outlook in Asia is exceptionally positive ,” added Lin.

The global travel industry is projected to soar to a staggering US$15.5 trillion by 20331, with Asia Pacific leading the way as the fastest-growing region. With a compound annual growth rate (CAGR) of 11% in the Asia Pacific (from 2023-2028)2, almost doubling that of North America and Europe, this dynamic region is set to capture a larger share of the global travel market, driven by a burgeoning middle class, increased consumer spending, and a growing appetite for unique experiences. Klook remains focused on catering to the increasing demand for immersive travel among Asian customers and showcasing the best of Asia to inbound travelers.

“ We are pioneering a transformative era of travel, catering to a new generation of more digitally-savvy travelers with bigger and bolder appetites for unique experiences. Our goal is to empower travelers to explore the world effortlessly through the Klook app, a one-stop platform that seamlessly connects them to a comprehensive range of in-destination services, encompassing immersive experiences and convenient ground transportation ,” shared Eric Gnock Fah , COO and Co-Founder of Klook.

Klook will strategically allocate the new funds to three key areas for growth. Firstly, in product innovation, expanding its city pass offerings to enhance traveler convenience and savings. Secondly, by scaling social and digital marketing through the Klook Kreator program, driving conversions with authentic, social, user-generated content. Thirdly, by advancing innovation through continuous AI integration. The recent collaboration with Google Cloud will integrate Generative AI across the platform, covering automated translations, content generation, and customer service chatbot. The company will also collaborate with the new strategic investors in the region, to increase market share and boost growth, tapping into the fast-growing middle class in Southeast Asia.

George Diamantopoulos

George is the News Feed Manager, Content Creator, and Social Media Manager at the TravelDailyNews network of online newspapers. At the same time, he is completing his studies in the Department of Business Administration at the Athens University of Economics and Business.

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