Visual: How Traveloka expanded beyond travel

Even amid the pandemic, Traveloka remains Indonesia’s most popular online travel agent (OTA), with 86% of respondents to a Rakuten Insight survey saying they regularly used the app.

But it’s undeniable that Covid-19 has significantly affected Traveloka’s main business – though to the company’s credit, it raised a US$250 million round in July 2020. The funding helped the Indonesian unicorn improve its balance sheet, although its valuation did drop from US$4.5 billion to a little over US$2.7 billion.

To remain relevant amid the health crisis, Traveloka has diversified its business, launching new services such as:

• Traveloka Xperience, a product that contains a variety of skills workshops that can be accessed from home.
• Traveloka Eats, which offers food delivery services from more than 200 restaurants in the Greater Jakarta, Java, and Bali areas.
• Traveloka Covid-19 Test, a feature that helps users book polymerase chain reaction (PCR) tests, rapid antigen tests, and vaccine shots. This service is available on Traveloka Xperience.

The following infographic tracks Traveloka’s offerings over the years.

Previously, the company said that its various efforts would hopefully bring it closer to profitability by the end of 2020. By October last year, Traveloka president Henry Hendrawan said that the company’s transaction numbers in Vietnam and Thailand had reached nearly 100% of its pre-Covid-19 levels.

The unicorn is also building its name in the fintech industry, which is part of its efforts to expand in Southeast Asia.

Peer-to-peer lending platform Danamas, a partner of Traveloka PayLater (the company’s buy now, pay later product), reported that credit transactions on the OTA reached 500 billion rupiah (US$35 million) in early 2019.

Traveloka PayLater has also partnered with other companies like Caturnusa Sejahtera Finance, as well as banking entities like state-owned Bank Negara Indonesia.

To expand its digital financial services in Thailand, Traveloka has also established a joint venture with SCB 10X, a subsidiary of Thailand’s largest bank, Siam Commercial Bank.