Indonesian proptech startup Travelio bags $18m from Gobi, Temasek’s Pavilion

Indonesia-based proptech startup Travelio has raised US$18 million in a series B round co-led by Temasek subsidiary Pavilion Capital and China’s Gobi Partners.

The company also later announced that Samsung Venture Investment Corporation, the VC arm of Korean conglomerate Samsung Group, has participated in the round. It marks Samsung Venture’s second investment in the country after backing ride-hailing unicorn Gojek.

The Travelio team / Photo credit: Travelio

Travelio operates an online real estate platform that connects property owners and developers to potential tenants, who can browse and book fully furnished accommodations.

The company works primarily with property developers and their agents, unlike foreign competitor Airbnb, which mainly focuses on renting out single rooms or whole units listed by individual property owners.

It plans to use the new funds to invest in marketing, talent, and new product verticals for tenants and property owners. Travelio also said that it has new services already in the pipeline, including interior design, daily necessities, financing, payments, and other logistics-related services, to be integrated into its ecosystem.

“We strive to be the go-to internet platform to meet the living needs of all Indonesians regardless of their duration of stay,” said Travelio co-founder and CEO Hendry Rusli.

According to the statement, Travelio aims to serve the growing demand for temporary housing, urbanization, and affordable living options in Indonesia that comes with the country’s rising middle-class population.

In May 2018, the company raised US$4 million in a series A round. Travelio co-founder and chief strategy officer Christina Suriadjaja previously told Tech in Asia that a bulk of the amount raised will go toward tech development and “capturing a larger market share of inventories locally.”

Travelio currently has thousands of unique properties ranging from apartments, villas, and houses in 25 different cities across Indonesia, according to its website.

Its existing backers include Vynn Capital, Insignia Ventures Partners, IndoGen Capital, and PT Surya Semesta Internusa Tbk, among others.

Update (December 12, 12:00 pm): This article was updated to include information about Samsung’s follow-on investment.