Go Zayaan, a Bangladesh-based online travel agency (OTA), has secured $2.6 million in a seed round headed by Wavemaker Partners.
Other SEA-focused VCs including 1982 Ventures and Iterative joined the round, as well as angel investors like Airbnb China CEO Kum Hong Siew, former Airbnb APAC managing director JJ Chai, and five former Priceline executives.
Century Oak Capital, a private investment firm located in Liechtenstein, has also joined.
Go Zayaan aims to use the additional funds to improve user experience, attract new talent, and grow its customer base and travel service network, with a focus on the Bangladesh market.
Go Zayaan, which was founded in 2017 by digital marketing whiz Ridwan Hafiz, collaborates with local airlines, intercity bus companies, hotels, and tour operators to provide additional travel options online.
The company seeks to bridge the gap between offline and online travel services by developing a comprehensive trip booking infrastructure that includes financing, modes of transportation, and accommodation choices, as well as connections with the country’s mobile financial services industry.
While online travel agencies (OTAs) account for just approximately 6% of the entire travel industry in Bangladesh, travel suppliers have been quickly adopting digital technologies in recent years.
Go Zayaan opted to focus on domestic tourism during the pandemic when tourism faced headwinds and boasts of a 5X rise in the last 12 months.
To date, the company claims to have over 500,000 monthly active users and a 40% repeat customer rate.