Taiwan-based travel startup nets fresh funds as domestic touring rebounds

KKday, a Taiwan-based travel platform, has secured an undisclosed amount in series C+ funding led by TGVest Capital.

The KKday team / Photo credit: KKday

The round brings the company’s total series C funding to US$95 million.

Founded in 2014 by Ming Chen, KKday connects travelers to local tours and activities. It has operations in over 90 countries.

KKday said its gross merchandise volume in June surpassed its pre-pandemic numbers. The startup added that it lowered its user acquisition cost by two-thirds compared to pre-Covid levels.

The firm attributed the rebound to its domestic travel business and the successful rollout of Rezio, its software-as-a-service system for travel merchants. To date, Rezio has reached over 1,600 merchants and 2.7 million travelers globally.

With the new funding, the company aims to double the number of its Rezio merchants and to continue hiring and improve its tech. There are also plans to strengthen its foothold in markets such as Japan, South Korea, and Taiwan, with focus on domestic travel.

The fundraise comes amid a “revenge travel” trend across the world despite looming inflation. According to a survey by Booking.com focused on the Asia-Pacific market, three out of four respondents said they were ready to travel in 2022. In Southeast Asia, Google reported an increase of 336% in “where to travel” searches during the March to April period this year as compared to 2021.

See also: A roadmap for online travel’s long, painful path to recovery