Golf booking app sinks funding as golf tourism booms in Thailand

Chiangmai Inthanon Golf Course in Thailand. Photo taken from Golfdigg’s site

Golfdigg, an app that offers last-minute golf deals in Thailand, has secured THB 23.83 million (roughly US$673,700) in funding from telecoms group Intouch through venture capital arm, Invent. Intouch runs AIS, the top telco in Thailand.

The investment, which the startup received in full, brings its valuation to US$2.8 million, “which is a a hundredfold increase from before,” the company tells Tech in Asia.

Golfdigg allows users to book slots at golf courses across Thailand for lower rates than walk-in prices.

Co-founder and CEO Bhurich Aksorntub says the app benefits local golfers as well as the growing number of golfing holidaymakers from around the world who can now play at courses that normally exceeded their budgets.

Popular golfing destination

It’s also a win for golf course operators because it allows them to get rid of unsold time slots by offering them as last-minute deals, adds co-founder and COO Thera Siricharoen. “This has resulted in increased revenue for not just golf courses but also associated services such as caddies.”

Intouch vice president Thanapong Na Ranong sees a lot of market potential for Golfdigg, given Thailand’s popularity as a golf tourism destination in Asia.

According to a 2013 report by the International Association of Golf Tour Operators, Thailand, with its more than 240 golf courses, ranked seventh in the world in terms of golf tourism – the only Asian country in the top 10. Currently, there are roughly 600,000 domestic golfers and about 750,000 inbound golf tourists coming mainly from Japan, Korea, and China.

Golfdigg registers an average of 200 deals on the app per month, and takes a 15-30 percent cut of each booking. Each deal involves a group of golfers so this equals roughly 1,000 golfers being serviced each month.

“Our revenue so far in 2015 has grown 800 percent from last year, and our target for 2015 is around THB 15 million (US$424,200),” co-founder and VP for product Wichartbhol Surapolbhichet tells Tech in Asia.

Wichartbhol adds Golfdigg will use the funds from Intouch to acquire new customers and for marketing activities.

AIS will tap into Golfdigg to offer services to golf-loving subscribers.