Day: July 28, 2020

SE Asia’s biggest travel app Traveloka raises $250 million as lockdowns ease

By Fanny Potkin

SINGAPORE (Reuters) – Traveloka, Southeast Asia’s largest online travel app, announced on Tuesday it had raised $250 million to help bolster its operations amid the coronavirus crisis, and as domestic travel starts to pick up in the region of 650 million people.

The eight-year-old startup said its funding round was led by a “global financial institution” and included existing investors, such as early backer East Ventures.

Traveloka, which claims more than 60 million downloads, has been battered by the virus outbreak, as Southeast Asian countries shut borders and imposed strict lockdowns, throttling a previously booming tourism industry.

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