KKday Founder and CEO Ming Chen
KKday, an e-commerce platform for tours, experiences and activities, has raised approximately US$70 million in a new financing round.
New and existing investors, including Cool Japan Fund, Taiwan’s National Development Fund, ZUU & De Capital Fund, CHBVC, and Darwin Ventures, participated in the round.
KKday has also secured several credit lines from financial institutions.
Also Read: Investor expectations have evolved beyond a singular focus on topline scale, growth: KKday CEO
A significant portion of the funds will be directed towards mergers and acquisitions in the Asia-Pacific region. This will help enhance KKday’s market position. KKday will also invest heavily in artificial intelligence and research projects.
In addition, the firm plans to attract top-tier talent in key markets across Asia Pacific.
According to the company, the capital injection comes at a time when it is experiencing record-high monthly Gross Merchandise Value (GMV), driven by a strong rebound in domestic and international travel demand.
Founded in 2015, KKday is an online platform specialising in local in-destination tours and guides. Through a collection of curated experiences, travellers can find off-grid activities and book them through the platform.
With over 350,000 unique experiences in over 550 cities and 92 countries, KKday provides users access to a wide range of lifestyle experiences. These experiences range from local theme parks and top restaurants to staycations and multi-day hiking trips.
Currently, KKday employs over 1,000 individuals across its 11 offices in Asia, including locations in Hong Kong, Korea, Japan, Singapore, Malaysia, Vietnam, Thailand, the Philippines, Shanghai, Taiwan, and Australia.
To double down on Japan
Recognising Japan’s status as a premier travel destination in Asia, KKday looks to strengthen its position in the country, particularly in the B2C market. It has partnered with the country’s largest accommodation booking platform, Jalan, enabling KKday users to access nearly 10,000 Japanese accommodations directly through the KKday app.
It has also collaborated with Tabelog, Japan’s leading restaurant review platform. KKday users can now book reservations at over 42,000 popular restaurants across the country.
The travel-tech company has also implemented a digital ticketing system at Nikko Toshogu Shrine to streamline visitor experiences and operations at the historic site.
Besides, KKday’s platform “rezio” provides tools to local experience suppliers for real-time inventory management and dynamic pricing, empowering them to enhance efficiency and profitability.
Also Read: How KKday saved for a rainy day when many travel startups called it a day during COVID-19
In July 2022, KKday secured an undisclosed sum in additional funding led by TGVest Capital to bring its total Series C round to US$95 million.
In November 2018, it had secured an undisclosed amount in Series B-plus, co-led by LINE Ventures and the Alibaba Entrepreneurs Fund. This round came close to six months after it raised investment from Alibaba Entrepreneurs Fund and launched a flagship store under Fliggy, Alibaba Group’s travel portal in China.
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