Travelio Announces Samsung Venture as Part of Its Series B Funding
Previously, the company has announced series B worth of 253.6 billion Rupiah
Randi Eka - 13 December 2019
Travelio prop-tech startup today (12/12) has announced new participant for its series B round. The one joining the board of investors is Samsung Venture Investment Corporation. It marks the second investor in this investment – the previous one is Pavilion Capital.
On the first announcement of series B round on mid-November 2019, Travelio has secured capital funds of 253.6 billion Rupiah. This round was led by Pavilion Capital and Gobi Partners. In addition, investors from the previous round also participated, namely Vynn Capital, Insignia Ventures Partners, IndoGen Capital, and PT Surya Semesta Internusa Tbk.
In Indonesia, Travelio is Samsung Venture’s second portfolio. They’re previously involved in Gojek’s series E round in 2018.
Through this announcement, Samsung Venture also mentioned the plan to make more aggressive maneuvers investing in Southeast Asia for more years to come.
“We’re very lucky to have Samsung as one of the shareholders. The history and its capacity will help us manage to be globally recognized and have a good reputation,” Travelio’s Co-Founder & CEO, Hendry Rusli said.
It’s also said that the additional capital from Samsung Venture will be focused to accelerate the company’s growth in 2020. It includes expanding integration and partnership with networks of conglomerates, technology, and electronics ecosystem in Samsung.
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Original article is in Indonesian, translated by Kristin Siagian