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Hello reader,
People sometimes get mocked for always going to the same few countries for holidays. I don’t get the judgment, though. As long as they do things they find meaningful, it doesn’t matter what destination is on their air ticket.
Regardless of how travelers spend their money during trips, one thing is clear: Companies within the hospitality, tourism, and ecommerce industries win. They continue to thrive financially amid the travel boom, with some even closing sizable funding deals this past week. Read on to find out more.
You can find all other important investment deals that happened in the last few days in our weekly funding news wrap-up.
Image credit: Timmy Loen
Let’s dive into the biggest deals and M&As that recently took place.
The biggest deals by country
🇮🇳 Zomato is a food aggregator and delivery company headquartered in India. It has raised US$1 billion in post-IPO funding through a qualified institutional placement.
🇯🇵 Not a Hotel is a Japanese firm that runs a platform for shared ownership of vacation homes. It has secured US$73.5 million in debt financing from Chiba Bank, Hiroshima Bank, and Sumitomo Mitsui Banking Corporation.
🇹🇼 KKday, a travel ecommerce platform from Taiwan, allows users to connect with local tour providers from all over the world. It has closed a US$70 million series D funding round whose participants included Canterbury District Volunteer Centre, Cool Japan Fund, and Darwin Ventures.
🇰🇷 Ably Corp, a South Korean fashion ecommerce platform, has received US$70 million in strategic funding from Alibaba.
🇭🇰 KPay, a financial management platform based in Hong Kong, has raised US$55 million in a series A funding round led by London-based investment firm Apis Partners.
M&As
Startups that are raising funds
Behind the Glasswall
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