Travel assistance app Klook said it attracted $210 million in new funding from investors, including the SM Group.
SM Investments Corp., though unit SMIC SG Holdings, joined investors like Bessemer Venture Partners, BPEA EQT, Asia investment funds Atinum Investment and Golden Vision Capital; corporate investment arms from Southeast Asia, like Krungsri Finnovate (under Bank of Ayudhya), Kasikornbank Financial Conglomerat; and bank facilities from Citi, J.P. Morgan, and HongKong Shanghai Banking Corp. (HSBC).
Klook said it will use the fund to three key areas for growth – new products, enhanced marketing initiatives and artificial intelligence (AI) integration.
Klook said it plans to expand its city pass offerings to enhance traveler convenience and savings. By scaling social and digital marketing through the Klook Kreator program, the app expects to drive conversions with authentic, social, user-generated content.
“The company will also collaborate with the new strategic investors in the region, to increase market share and boost growth, tapping into the fast-growing middle class in Southeast Asia,” it said in a statement.
