SoftBank Vision Fund leads $225m round in Hong Kong’s Klook

Hong Kong-based travel services booking platform Klook announced today that it has raised US$225 million in a series D+ round, bumping up its total Series D round to US$425 million.

Japan’s SoftBank Vision Fund led the fundraise, with existing investors Sequoia China, Matrix Partners, TCV, and OurCrowd joining in.

Klook co-founder and COO Eric Gnock Fah

This round represents the largest investment in the travel services industry, the company claimed in a statement. Co-founder and COO Eric Gnock Fah told Tech In Asia that Klook’s already expansive reach helped attract investors to the company.

Klook plans to use proceeds to scale its operations geographically and continue growing its business in its existing markets in Asia. To do so, the company is looking to develop more services and spend more on Klook’s branding and awareness, Gnock Fah added.

The company, which lets tourists book activities at their destination of choice, said it will increase its investments in Tokyo in anticipation of the 2020 Summer Olympics, which will be held in the city. It also aims to further expand into additional cities in Japan.

See: How Klook became a billion-dollar activities booking giant

Already the leader in its niche in the Asian market, Klook wants to expand its reach in Europe and the Americas. Destinations in that part of the world have become increasingly popular to the Asian audience, according to Gnock Fah.

True to its roots, mobile bookings continue to make up the majority of Klook’s transactions. Founded in 2014, the company has partnerships with Shangri-La Hotels and Resorts and rail products distributor Rail Europe.