SoftBank bets on Asia's travel market with investment in Klook

Vision Fund leads $225m funding round for Hong Kong-based activities booking startup

Klook said it would use the proceeds of the new funding round to expand in Asia, with a key focus on Japan as the 2020 Tokyo Olympics approaches (Photo courtesy of Klook).

WATARU SUZUKI, Nikkei staff writer

April 9, 2019 20:24 JST

TOKYO -- SoftBank Group's massive technology fund has led a $225 million investment round into Hong Kong-based online travel startup Klook, giving the company the firepower to fend off rivals in Asia's fast-growing activities booking market.

Existing investors Sequoia China, Matrix Partners, TCV and OurCrowd also participated in the round, Klook announced on Tuesday. Its previous funding round last August, when it raised $200 million, valued Klook at $1 billion, but it declined to comment on the latest valuation.