Klook raises US$200M Series E funding

Hong Kong: Klook, a Hong Kong-based travel and leisure booking platform, announced today it has raised US$200 million in its Series E funding round, led by local investment firm Aspex Management.

As per a press note, the new capital will be used to bankroll the development and roll out Klook’s merchant SaaS solutions, which will enable merchants to build, manage and scale their business on the platform.

With the travel industry heavily impacted by COVID-19, the company has re-prioritized its core strategic strengths and is now focused on two main areas — digitizing the experiences booking sector and launching new verticals such as staycations and car rental.

In key markets such as Singapore, Hong Kong, and Taiwan where restrictions have eased, Klook claims to have witnessed increased spending on local experiences, with bookings reaching near pre-pandemic levels as locals start exploring domestically.

“We’ve observed over the past year that consumers have a pent-up desire to explore and enjoy themselves, despite international travel being paused. Instead, they are turning inwards exploring new and unique experiences right in their backyard,” shared Ethan Lin, CEO, and Co-founder at Klook.

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