Hong Kong tours/activities startup launching U.S. operations

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Tours and activities provider Klook has secured $200 million in Series D funding.

The investment in the Hong Kong-based business comes from Sequoia Capital, TCV, Matrix Partners Goldman Sachs, Boyu Capital and other investors.

Klook has raised a total of $300 million, including $60 million in a Series C round in October 2017 and $30 million in Series B in March 2017.

The company, founded in 2014, has opened offices in London and Amsterdam since closing the $60 million round last year. 

Klook, which describes itself as "Asia's largest in-destination services booking platform" says this latest funding will help it launch the platform in the United States and Europe; it plans to open a U.S. office by the end of 2018.

"We are committed to using innovative technologies to help digitize the tours and activities industry. The new funding will help us deepen our partnership with merchants through more technological solutions that bring new sources of customers and optimize operational efficiencies," says Klook co-founder and COO Eric Gnock Fah. 

The platform, which offers tours, activities, restaurants and local transport via its website and mobile app, is estimated to achieve almost $1 billion in bookings in 2018.

Phocuswright research estimates the travel activities market will reach $183 billion globally by 2020.

The tours and activities sector continues to be in the spotlight in terms of investor attention with Germany-based GetYourGuide getting $75 million in funding last November. More recently, U.S.-based Peek secured a Series B round of $23 million.

The sector has also seen consolidation in recent months with Booking Holdings' acquisition of tours and activities technology specialist FareHarbor in April, closely followed by TripAdvisor's acquisition of Bokun.
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Source: PhocusWire

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