Online travel agency Traveloka, located in Indonesia, has received $300 million in additional funding from investors, including the Indonesia Investment Authority, BlackRock, Allianz Global Investors, and Orion Capital Asia.
Ferry Unardi, the CEO and co-founder of Traveloka, said in a statement that this investment will enable the business to bolster its balance sheet while the travel sector recovers from the epidemic.
The company’s abortive effort at an IPO via SPAC last year led to the additional funds. Traveloka stated that going public is still a priority. It hasn’t yet decided which path it will go, though.
The company earned US $250 million in 2020 when its estimated value was US $3 billion.
The business says that the app from Traveloka has been downloaded more than 100 million times. It grew to include food delivery, e-grocery (which was shut down in August 2022), logistics, financial services, and training in order to deal with the epidemic.