Hong Kong travel start-up Klook lands US$200 million funding to expand to US, Europe
Klook started out as a local platform selling discounted attraction tickets to Hongkongers, but has since expanded regionally across Asia
Hong Kong online travel agency Klook said on Tuesday that it has landed US$200 million in funding, with plans to expand to the US and Europe as it looks set to hit US$1 billion in bookings this year.
The company, which operates a platform that sells travel experiences and tickets for a variety of attractions, will use the fresh funds to expand its operations in the US and Europe, adding more services and activities in the region to its Klook platform as well as opening a US office by the end of the year.
Klook started out as a local platform selling discounted attraction tickets to Hongkongers, but has since expanded regionally across Asia and now offers items like SIM cards, tours, and even transportation and food deals in major cities across the region.
“In the travel space … we don’t do flights, we don’t do hotels, and despite being in a seemingly small niche [offering bookings for attractions and experiences] at the beginning, this niche has proven to be a very big market. We’re the first travel company from Asia to really grow onto the global stage,” said Eric Gnock Fah, chief operating officer and co-founder of Klook to reporters in a press event on Tuesday.
“[Going global] is a new kind of trend and phenomenon happening in Asia … where we can be at the same kind of level and growth as the likes of Netflix, Airbnb, Spotify and so forth.”