Jofie Yordan · · 1 min readTraveloka lands $300m funding from BlackRock, Indonesia govt
Traveloka, an Indonesia-based online travel company, has secured new financing worth US$300 million from investors, including the country’s sovereign wealth fund Indonesia Investment Authority, BlackRock, Allianz Global Investors, and Orion Capital Asia.
In a statement, Traveloka CEO and co-founder Ferry Unardi said this financing would allow the company to strengthen its balance sheet as the travel industry emerges from the pandemic.
Photo credit: Traveloka
The new funds follow the company’s unsuccessful attempt at an IPO via SPAC last year. Traveloka said it is still committed to going public. However, it’s yet to decide which route it would take.
In 2020, the firm banked US$250 million, and its valuation was pegged at US$3 billion that year.
See also: Can Traveloka, AirAsia break into Indonesia’s food delivery duopoly?
Traveloka’s app has been downloaded more than 100 million times, the company claims. To cope with the pandemic, it expanded to offer food delivery, e-grocery (which was closed in August 2022), logistics, financial services, and workshops.
Editing by Samreen Ahmad and Jaclyn Tiu
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