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Deepti Sri · · 1 min readReport: Traveloka plans to launch fintech services in Thailand and Vietnam
“Traveloka, Southeast Asia’s largest online travel startup, plans to launch financial services in Thailand and Vietnam as it eyes a US listing through a blank-check company,” reported Reuters, citing the company’s president.
Details:
- The Indonesia-based company said its business has rebounded since the start of the pandemic, with its Vietnam unit surpassing pre-Covid-19 levels. Meanwhile, its Thailand business returned to normalcy and its Indonesia numbers are at half of the pre-pandemic levels.
- The travel firm may also consider buying a bank in Indonesia and listing itself in the country on the back of “huge” business potential.
Context:
- In October 2020, Traveloka said it was poised to break even despite the pandemic and is also reportedly evaluating a merger with a special purpose acquisition company as a possible US stock market listing.
- The online travel startup has also reportedly selected JPMorgan Chase to aid in its plans to go public.
Editing by Collin Furtado and Jaclyn Tiu
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