Travel Experience Platform KKday Raises $75 Mn In Series C Round
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KKday, a travel experience platform that helps travelers find local experiences in different holiday destinations in Asia, on Tuesday raised USD 75 million in Series C funding round.
The investment round was led by Cool Japan Fund and National Development Fund and saw participation from existing investors Monk’s Hill Ventures and MindWorks Capital.
Commenting on the funding that comes at a time when the travel industry worldwide continues to struggle due to Covid-19, Chen Ming-ming, founder and chief operating officer, KKday said “The pandemic has significantly impacted the travel industry in Asia. We are grateful for our investors who continue to believe in us and in our vision to be the leading travel experiences platform – particularly during this time.”
“KKday's closing of this round during a pandemic is a testament of the team's ability to overcome insurmountable problems. With this funding round and talented leadership, KKday will be in pole position when the travel industry recuperates." said David Chang, co-founder and managing partner, MindWorks Capital.
KKday will utilise the fresh capital to expand its operation in Asia and globally and to further develop Rezio—a solution for travel operators and activity providers. It will be an all-in-one booking management platform for travel operators and activity providers across the globe, consisting of services such as real-time inventory across different booking channels, integration with local payment gateways, powerful online stores and others. All these services can be availed through any mobile device, the company said.
“In our relentless pursuit to provide the best and seamless experience for any traveler, Covid-19 has pushed us to innovate. Rezio, we believe, will offer long-term value to travel operators, activity providers, and most importantly, their end users – travelers. We are also excited to continue expanding into new markets and to innovate new products and services with a traveler-focused mindset,” Ming-ming said.
The company piloted Rezio in March this year in Taiwan and Japan. It plans to add more functionalities and push out the platform to tour operators and activity providers across Asia.
Commenting on the investment, Kuo-Yi Lim, co-founder and managing partner, Monk’s Hill Ventures said, “We expect traveler demand to bounce back quickly when leisure travel opens up again. The human desire to travel, experience and connect is fundamental. We have high conviction in KKday’s leadership team and believe the company is primed to seize the immense opportunity ahead of us.”
Founded in 2014, KKday currently has a user base of over 5 million on its platform, hosting over 30,000 curated experiences across 550 cities and 92 countries.