BlackRock, Allianz Join $300 Million Travel Startup Funding in Southeast Asia
By Fathiya Dahrul, Elffie Chew and Olivia Poh
Traveloka has secured $300 million in new financing from investors, including BlackRock Inc., as Southeast Asia’s biggest online travel startup counts on a post-COVID rebound to expand in the region.
The Jakarta-based company said in a statement Thursday it struck a deal for financing with investors, including Allianz Global Investors and the Indonesia Investment Authority.
The size of the funding round is significantly larger than the previously discussed target of about $200 million that Bloomberg News reported in June. Traveloka, backed by investors such as GIC Pte and Expedia Group Inc., is considering an initial public offering in the U.S. or in Indonesia, according to a person familiar with the matter who asked to remain anonymous discussing a private matter.
Source: Law.com (link opens in a new window)
- impact investing, startups, tourism