On July 14, 2022, KKDay, an Asian platform for travel experiences, raised an additional USD 5 million in a Series C+ round, increasing the total amount raised to USD 95 million. TGVest Capital, a significant tech-focused private equity fund in Asia, is leading the deal.
The funding will be used to grow KKday’s staff internationally, strengthen its domestic presence (especially in markets with a focus on domestic travel, like Japan, Korea, and Taiwan), and develop new technologies to keep up with the growing demands of online travel agencies (OTAs) and neighborhood activity and experience providers (local merchants).
What the founder has to say:
Ming Chen, CEO, and founder of KKday:
“We are still committed to our value proposition of offering distinctive hyperlocal experiences to more digital tourists. Our compass will be hyper localization and digitization as we expand and increase our user and merchant base. Our domestic travel company has been steadily growing over the past year in essential markets, including Taiwan, Japan, Hong Kong, Korea, and Southeast Asia, thanks to the foundation we created last year. To prepare for the potential increase in demand for travel and tourism, we intend to intensify our current efforts, including working with our merchants and OTAs to digitize their operations.
What the investors have to say:
Claire Lai, Managing Director of TGVest Capital:
“As borders reopen, traveler demand is increasing quickly. The Covid-19 tsunami has been successfully weathered thanks to Ming and his team’s unwavering emphasis on innovation and offering long-term value to its community of travel operators, activity providers, and customers. As travel continues to reopen and digital transformation remains a long-term trend, KKday will be in a good position to grab market share and value with the help of this fundraising round.”
More about the startup:
Due to expansion in its domestic travel sector, new business verticals, and the successful rollout of rezio, its SaaS solution to manage bookings and inventory for merchants on multiple channels, to more than 1,600 merchants worldwide, KKday is quickly recovering. KKday intends to step up its hiring efforts across geographies and positions, such as software developers, R&D, business development and operations, and marketing.
The GMV of KKday surpassed pre-Covid levels in June 2022. Additionally, it reduced user acquisition expenditures to one-third of what they were before the epidemic. In important regions like Japan, Hong Kong, Korea, Taiwan, and Southeast Asia, KKday’s domestic travel business has been the main development driver during Covid-19.
KKday collaborated with Nami Island, a well-liked tourist destination in South Korea, to link its rezio software with the attraction’s hardware (e.g., e-gate, kiosk, POS system). Similar to this, Asahiyama Zoo, one of Japan’s top zoo attractions, has contracted with KKday for several years to deploy rezio’s solutions. KKday wants to add 100% more new merchants, to the rezio platform.
KKday’s rezio has also worked with significant OTAs like Viator to broaden its merchants’ channels and global footprint. As a result of its cooperation with Viator, rezio can link its API so merchants can manage their items on Viator and Tripadvisor in addition to its current sales channels. As borders reopen, KKday plans to resume its well-liked, independently owned, and run signature excursions that give visitors selected, premium local experiences.
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