Indonesia’s Traveloka Looks to Raise Over $200 Million
Photo Credit: Traveloka is the most popular and biggest player in Indonesia. Traveloka
Skift Take
As Traveloka drops off from the once-hot special purpose acquisition company race, a $200 million funding would stand the travel tech unicorn in good stead, in case it decides to take the conventional IPO route.
After plans earlier last year to go public through a special acquisition company (SPAC) fizzled, Indonesia’s Traveloka is said to be in talks for another funding round of more than $200 million. The online travel unicorn has so far raised a total of $1.2 billion in funding across six rounds, the latest being the $250 million led by Qatar Investment Authority in July 2020.
“Unfortunately, we cannot comment on market speculation,” said a source from Traveloka while responding to Skift’s query on the funding news.
Traveloka is undoubtedly the most popular and biggest online travel agency in Indonesia with a market share of 43 percent. The travel unicorn, along with Agoda and Booking.com, also dominates the online travel agency industry in Singapore, Thailand and Malaysia, according to a Skift Research in 2021.
The company has built itself in recent years from a pure tech operation into a wider services company, through a series of acquisitions, in
