Travelio, Indonesia-based property rental startup, announces that it has secured funding from Samsung’s venture capital arm, Investment Corporation Samsung Venture Investment Corporation. The VC participated in Travelio Series B’s round led by Singapore’s private equity fund Pavilion Capital.
This is Samsung Venture Investment Corporation’s second investment in Indonesia, after backing gojek.
The South Korea-based conglomerate is said to be looking more actively into deals in the Southeast Asia region in the near future.
Travelio said it plans to use the investment to accelerate the company’s target in 2020 with deeper integration and partnership with the conglomerate’s network, technology, and electronic related ecosystem.
The deal, Travelio said, strategically complements its mission to be the “go-to internet platform” to meet the living needs of Indonesians regardless of their duration of stay.
“We are very fortunate to have Samsung as the latest addition to our shareholders. Their track record and expertise will help to gear us up to be a globally recognized and reputable firm.” said Hendry Rusli, CEO & Co-Founder at Travelio.
Travelio raised a US$18 million in Series B funding round co-led by Pavilion Capital and Gobi Partners back in November.
It was founded by Hendry Rusli, Christina Suriadjaja, and Christie Tjong. It connects property owners and developers to potential tenants through its platform, wherein tenants can browse and instantly book a wide range of accommodations that are fully furnished in accordance with Travelio’s standards.
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Picture Credit: Travelio
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