Traveloka, Southeast Asia’s leading travel and lifestyle platform, has announced raising $300 million in a funding round led by a private credit fund managed by BlackRock.
A consortium of global institutional investors also participated in the funding round that will finance the expansion of Traveloka’s platform and strengthen the company’s capabilities as the world opens up.
Traveloka has a significant market presence in Indonesia, Vietnam, Thailand, and a growing footprint in Singapore, Malaysia, and the Philippines.
“Traveloka is a strong leader in the online travel space in Southeast Asia, a region which has become one of the most popular tourist destinations in the world. We are delighted to be the lead investor for this financing transaction as part of our dedicated private credit strategy to support Traveloka’s business growth with flexible credit solutions,” said Celia Yan, head of Asian Private Credit at BlackRock.
Celia continued, “Traveloka’s proven track record and the opportunities brought by resumption of travels have made this an interesting investment opportunity to share BlackRock’s industry expertise and create value as the company pursues its next stage of growth.”
For his part, Ferry Unardi, Traveloka’s CEO and co-founder, said, “We are very pleased to be able to add BlackRock and a consortium of global institutions to our existing group of committed investors who believe in our vision to fulfil the travel and lifestyle aspirations of our users.”
“As our business continues to accelerate while the industry emerges from the pandemic, this financing allows us an opportunity to further strengthen our balance sheet and enable us to continue to focus on our core business while also building for the future,” Undardi added.
Founded in 2012, Traveloka has grown to become a leader in the online travel space1 in Southeast Asia with scale and brand salience, offering one-stop-shop experiences including travel services, food reviews and city guides.
The platform has advanced significantly via organic growth of users, market share expansion and the adoption of new offerings.
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