klook travel technology sdn bhd ctos

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Klook travel technology sdn. bhd. (malaysia).

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COMPANY DESCRIPTION

KLOOK TRAVEL TECHNOLOGY SDN. BHD. was incorporated on 2016-09-01 in Malaysia with registration number of 1200414V / 201601029473 . KLOOK TRAVEL TECHNOLOGY SDN. BHD.'s business includes 1. TOUR OPERATING BUSINESS2. TRAVEL AGENCY BUSINESS3. MARKETING, PROMOTION AND ADVERTISING

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Klook completes a significant $210 million funding round, enhancing its digital travel offerings amid Asia’s post-COVID recovery.

SINGAPORE – Klook announced that it has successfully completed a US$210 million financing, supporting business growth and fortifying financial stability. The equity round is led by Bessemer Venture Partners , with participation from BPEA EQT , Asia investment funds Atinum Investment and Golden Vision Capital , and corporate investment arms from Southeast Asia, including Krungsri Finnovate (under Bank of Ayudhya), Kasikornbank Financial Conglomerate and SMIC SG Holdings. The round also includes bank facilities from Citi, J.P. Morgan, and HSBC.

For many Asian markets, 2023 marks the first year of travel recovery with a notable rebound in tourism figures and a gradual recovery in flight capacities. Despite this early stage in market recovery, Klook has demonstrated remarkable business success, surpassing previous milestones with a threefold increase compared to 2019 and boasting an annualized gross booking value of US$3 billion. Notably, the company also achieved overall profitability for the first time earlier this year.

Ethan Lin , CEO and Co-Founder, credits this accomplishment to the collective efforts of the team in establishing the groundwork for the post-COVID era of travel. “ During the pandemic, we doubled down on our resources in merchant digitization and the expansion of our supply network, including car rentals and outdoor experiences. This positions us strongly to capture new travel trends coming out of the pandemic ,” said Lin.

The company’s success is further underscored by its increasing brand strength, strategically building on and leveraging its app-first approach to both acquire and retain customers, with over 80% of bookings made through mobile today. Impressively, the influx of new customers acquired in 2023 more than doubled that of 2019, while repeat customers contributed to over half of the total bookings, demonstrating the sustained customer loyalty fostered by the platform.

“ Leveraging strong business fundamentals that led to significant growth in revenue and profit this year, including a threefold increase in productivity (revenue per headcount), we are set for a new phase of sustainable expansion. With Asia in the early stages of post-COVID recovery, upcoming global events like the Paris Olympics 2024 and Osaka World Expo 2025, along with rising expenditures and digital adoption, the industry outlook in Asia is exceptionally positive ,” added Lin.

The global travel industry is projected to soar to a staggering US$15.5 trillion by 20331, with Asia Pacific leading the way as the fastest-growing region. With a compound annual growth rate (CAGR) of 11% in the Asia Pacific (from 2023-2028)2, almost doubling that of North America and Europe, this dynamic region is set to capture a larger share of the global travel market, driven by a burgeoning middle class, increased consumer spending, and a growing appetite for unique experiences. Klook remains focused on catering to the increasing demand for immersive travel among Asian customers and showcasing the best of Asia to inbound travelers.

“ We are pioneering a transformative era of travel, catering to a new generation of more digitally-savvy travelers with bigger and bolder appetites for unique experiences. Our goal is to empower travelers to explore the world effortlessly through the Klook app, a one-stop platform that seamlessly connects them to a comprehensive range of in-destination services, encompassing immersive experiences and convenient ground transportation ,” shared Eric Gnock Fah , COO and Co-Founder of Klook.

Klook will strategically allocate the new funds to three key areas for growth. Firstly, in product innovation, expanding its city pass offerings to enhance traveler convenience and savings. Secondly, by scaling social and digital marketing through the Klook Kreator program, driving conversions with authentic, social, user-generated content. Thirdly, by advancing innovation through continuous AI integration. The recent collaboration with Google Cloud will integrate Generative AI across the platform, covering automated translations, content generation, and customer service chatbot. 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.

George Diamantopoulos

George, in his capacity as an intern, diligently oversees the flow of news, assists in the publication of content, and delves into the strategies of social media distribution. He is currently pursuing his studies in Business Administration at the Athens University of Economics and Business.

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Klook Travel Technology Sdn. Bhd. (Malaysia)

Klook Travel Technology Sdn. Bhd. is an enterprise located in Malaysia, with the main office in Kuala Lumpur. It operates in the Office Administrative Services industry. It was established on September 01, 2016. The latest financial highlights indicate a net sales revenue increase of 39.83% in 2022. Its’ total assets recorded a growth of 93.94%.

Headquarters Unit No. 33.01 & 33.02, Level 33, Mercu 2, No.3, Jalan Bangsar, Kl Eco City Kuala Lumpur; Federal Territories; Postal Code: 59200

Contact Details: Purchase the Klook Travel Technology Sdn. Bhd. report to view the information.

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Success Stories

Klook travel technology sdn bhd.

KLOOK Travel Technology Sdn Bhd, a prominent player in the travel and tourism industry, has harnessed the power of ASUS ExpertBook B1 and B9 to optimize its operations and elevate customer service to new heights.

Founded in 2014, KLOOK has quickly risen to become a global leader in offering a wide array of travel experiences and services to travelers across the world. With a strong commitment to innovation and customer satisfaction, KLOOK has revolutionized the way people plan and book their travel experiences.

The ASUS ExpertBook B1 and B9 have become integral tools for KLOOK's success. These laptops are renowned for their exceptional performance, sleek design, and advanced security features. The ExpertBook B1, known for its robust build and reliability, has empowered KLOOK's employees to stay productive even in the most demanding travel environments. Its long-lasting battery and quick charging capabilities ensure that travel agents can stay connected with customers and manage bookings efficiently, no matter where they are in the world.

On the other hand, the ExpertBook B9, with its slim and lightweight profile, has become the perfect companion for KLOOK's executives and managers. Its powerful processing capabilities and stunning display make it an ideal choice for decision-makers who need to analyze data, plan strategies, and communicate with their teams effectively. Both laptops also feature advanced security measures, such as fingerprint authentication and encryption, ensuring that sensitive customer data and business information remain protected.

In summary, KLOOK Travel Sdn Bhd has embraced the ASUS ExpertBook B1 and B9 to streamline its operations and provide top-notch customer service. With these powerful and secure devices in their arsenal, KLOOK is well-positioned to continue its journey as a global leader in the travel and tourism industry, offering travelers unforgettable experiences with the utmost confidence in their service.

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Travel portal Klook marks its ninth anniversary by introducing new programmes and technologies

From left: Gnock Fah, Ethan Lin, chief executive officer and Wilfred Fan, chief commercial officer of Klook (Photo: Klook)

Achieving success within a decade may be considered fast or slow, depending on one’s expectations. As Klook celebrated its ninth anniversary in September, the travel booking platform announced that it had attained a total of US$3 billion in annualised gross booking value, a threefold increase in sales compared with 2019. But for its chief operating officer and co-founder Eric Gnock Fah, growth is still not up to speed.

As a business that relies completely on travel and tourism, Klook was gravely affected by the Covid-19 pandemic when all excursions and outdoor activities had to be suspended. Naturally, there were plenty of lessons to learn from the global crisis.

“We did not have domestic travel [offerings] before and that’s why during the early days of the pandemic, we suffered badly because people could not fly overseas. We knew some places were open for travel within the country but we couldn’t tackle that until late 2021. In 2022, we started to shift our focus to [this area]. So now, it’s quite a balance between international and domestic travel,” Gnock Fah said during a media trip organised by Klook to Bangkok last month.

The company understood the public health crisis would not be the only setback for international travel. “There will always be hiccups here and there. It could be the pandemic, or political conflicts between countries that will make overseas trips impossible. That’s why we need to ensure we have a diverse revenue source. Luckily for us, we don’t have one market that contributes more than 10% to our business — if a particular market for whatever reason does not work out, the business can still do well.”

Now that tough times seem to be in the past, it is all about picking up the pace and catching up on lost potential. As soon as Klook rebounded, it kept moving at a full, steady speed and has not looked back since. New programmes and advanced technologies have been implemented to ensure a more seamless booking system.

As a venture that targets millennials and Gen Z — 70% of its consumers are aged between 25 and 35 — Klook completely understands the immense power of social media and technology.

“Social media has been the core of our business. We have been doing a lot of promotions on [various platforms] from day one,” Gnock Fah said.

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Options is the award-winning lifestyle pullout of The Edge Malaysia, the country’s premier business and investment weekly publication.

Welcome to Klook Careers

At Klook, your career is yours to explore. You actively shape your role, push the boundaries and watch the impact you have on the company and the industry. We thrive on change but we stay committed to a shared goal: connecting people with experiences that bring joy, whether it's a staycation, a weekend getaway or that dream holiday. Ready to join us?

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What I value most about working at Klook is personal growth. Everything changes fast here, which can take some getting used to at the beginning. But once you embrace the change, you come to appreciate the dynamic work environment that opens up many new opportunities in a short time and gives you the flexibility to choose your next challenge.

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