Tag: Vitruvian Partners

Singapore – Klook has announced US$100m in funding led by growth investment firm Vitruvian Partners. The latest investment underscores continued confidence in Klook’s vision, market leadership, and operational excellence as the company accelerates its efforts to capture the fast-growing market of next generation travelers and deepen its reach across Asia-Pacific.

The investment from Vitruvian Partners, known for backing high-growth, category-defining companies, brings a wealth of expertise and global perspective to Klook’s next phase of growth. 

With a strong track record of supporting travel innovators and scaling global businesses, Vitruvian’s partnership reinforces Klook’s ambition to expand its reach, and solidify its position as a category leader.

Marking its 10th anniversary in 2024, Klook has been instrumental in redefining how travelers discover and book in-destination experiences. The company has facilitated millions of seamless travel moments, empowered local businesses, and contributed US$7.2b in GDP and supported over 219,000 jobs in Asia-Pacific, reaffirming its pivotal role as a key economic engine in the region’s tourism sector.

Ethan Lin, CEO and co-founder of Klook, said, “Over the past decade, Klook has established itself as the go-to platform for travel experiences in Asia Pacific, reimagining how travelers discover and connect with destinations. With the region set to remain the heartbeat of global tourism, Klook’s strong brand, extensive supply network, and deep local expertise position us to deliver even greater value to the next generation of experience-driven travelers across the world. We are excited to welcome Vitruvian on this journey.”

Meanwhile, Sophie Bower-Straziota, partner at Vitruvian Partners, commented, “We are thrilled to partner with Klook at this pivotal moment in its journey. Klook’s track record of innovation, commitment to customer experience, and deep market expertise make it uniquely positioned to lead the transformation of travel experiences in Asia Pacific. We believe Vitruvian’s investment and its deep thematic expertise in the global travel experience market will help further drive Klook’s growth by strengthening its operational capabilities and expanding its reach.”

The newly secured capital will drive Klook’s next phase of growth and innovation. Through its expanded AI partnership with Google Cloud, the company plans to enhance customer experience, merchant operations, and internal productivity. Klook is also future-proofing the tourism sector through digital transformation and fostering community impact in collaboration with tourism boards across Asia-Pacific.

Moreover, a recent agreement with the Philippine Department of Tourism (DOT) exemplifies this approach, accelerating the digital transformation of the country’s tourism sector and improving access to authentic local experiences.

Singapore – Indian merchant commerce platform Pine Labs has raised US$50m from Vitruvian Partners, a London-headquartered international investment firm.

With this newly secured investment, Pine Labs will continue to expand its BNPL offering in the Southeast Asia region. 

Amrish Rau, Pine Labs’ CEO, shared that they are deeply focused on the omnichannel play and are building frictionless and seamless payment experiences for their merchant partners and large enterprises. 

“We aim to further strengthen our recent foray in online payments via Plural and take our Buy Now Pay Later offering to new markets through strategic collaborations. We welcome Vitruvian Partners on this journey and thank them for the trust shown in us,” said Rau.

Meanwhile, Peter Read, Vitruvian Partners’ partner, commented that their investment in Pine Labs follows several investments they have made into the digital payments space, and they are excited to partner with the management team as they continue to drive digital transformation within the rapidly growing Indian payments market. 

“We were impressed by the versatility of the omnichannel payments platform, as well as the expanding geographic footprint,” said Read.

Earlier this month, Pine Labs has launched the ‘Mastercard Installments with Pine Labs’ program with Mastercard and DBS Bank to empower the bank’s two million customers in Singapore, Indonesia, and Hong Kong SAR with Pay Later instalment purchase options at the point of sale.