Klook raises US$200m more to boost merchant SaaS solutions

TRAVEL booking platform Klook has raised US$200 million in additional funding. Asia-Pacific-focused Aspex Management led the Series E round, along with other new investors.

The latest round of funding brings the company's total amount raised to over US$720 million since its founding in 2014. 

Existing investors Sequoia Capital China, Softbank Vision Fund 1, Matrix Partners China and Boyu Capital also participated in this round of funding, Klook said in a press statement on Tuesday.

With the new capital, Klook will accelerate the development and roll-out of its merchant software as a service (SaaS) solutions. These solutions look to bridge gaps faced by merchants and allow them to build, manage and scale their business with Klook.

The firm said its merchant SaaS solutions power millions of bookings for more than 2,500 merchants worldwide. By doubling down on its SaaS solutions, more merchants will be able to create a Klook-powered online storefront, supported by a backend engine that manages ticketing, distribution, inventory management, marketing, and more.

Klook chief executive and co-founder Ethan Lin said: "This new capital further strengthens our leading position to take us from defence to offence, as domestic tourism becomes ubiquitous and international travel gradually returns."

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The firm has partnered tourism boards in Singapore, Thailand, Hong Kong, Japan and South Korea, among others, to help diversify offerings and grow demand domestically.

The Singapore Tourism Board appointed Klook as an authorised booking partner for the SingapoRediscovers Vouchers to boost domestic demand.