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Family offices invest in Goldman Sachs-backed travel platform

Family offices invest in Goldman Sachs-backed travel platform

Travel booking site Klook has closed its latest funding round with investments from wealthy private investors.

The Hong Kong-based company said it has closed $200 million in Series D funding, bringing its total financing to-date to $300 million.

Family offices, Goldman Sachs, Boyu Capital, Matrix Partners, Sequoia China, TCV, OurCrowd, and an Asia-based sovereign wealth fund are among its investors.

Some of the family office investors are from Southeast Asia, a Klook spokesperson told Citywire Asia.

Goldman Sachs, Sequoia China and Matrix Partners also led the $60 million Series C funding last October.

Klook said the funds raised will be used to accelerate its growth plans in the US and Europe, as well as expand its product line and technology capability.

The firm will open an office in the US this year, plus add more US and Europe-based services onto its platform for its Asian clients, while simultaneously looking to bring more US and European travellers to Asia.

Since closing its Series C fund last year, Klook has opened offices in London and Amsterdam, and now employs more than 600 people across 16 offices globally. 

On the technology front, Klook already offers travel operator solutions such as the Merchant App and QR-code based e-voucher redemption. It will use the latest funds raised to further enhance real-time booking experiences.

‘The new funding will help us deepen our partnership with merchants through more technological solutions that bring new sources of customers and optimize operational efficiencies,’ said Eric Gnock Fah, chief operating officer and co-founder of Klook.

Founded in 2014, Klook is currently on track to achieve $1 billion annual bookings in 2018. 

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