Wego.com, the travel meta-search engine operational in Asia-Pacific and Middle East, has raised USD 17 million in Series C funding led by Crescent Point, Victoria Capital and existing investor Tiger Global. This funding will take the total funds raised by it to USD 36 million.
Based in Singapore, Wego is available in 52 markets and 30 languages globally with large user base in markets of Indonesia, India, Southeast Asia and the Middle East.
Wego will be using the additional capital to invest in product and innovation, growing the team and to scale marketing. With this funding Paul Bassat from Victoria Capital and a representative of Crescent Point have joined Wego’s board of directors.
“We are thrilled to have had the opportunity to invest in Wego” said Paul Bassat, Co-Founder of Victoria Capital. “Ross and team have done an exceptional job in building the business and it is poised for many years of rapid growth,” he added.
It claims to generate more than USD 10 million per day of bookings for their travel partners.
It had launched its operations in India in May last year with its India specific site wego.co.in. However, in 2010, Wego had gone in partnership with Bangalore-based travel information and review portal HolidayIQ and the combined entity had completed a Series B funding round led by Tiger Global, the New York based growth capital fund. But earlier this year HolidayIQ had announced a demerger with Wego and gone with another round of funding from existing investors Accel Partners and Tiger Global.
Wego had raised its first round of funding from News Corp’s News Digital Media in 2007.
Wego provides tools that help travellers research trips, compare prices of flights and hotels across multiple websites and book tickets online. It claims to provide users an unbiased and channel neutral view of travel prices, providing a choice of booking direct with a hotel or airline, or via an online travel agent or aggregator.
It was founded in 2005 by former executives from Intercontinental Hotels Group, Yahoo, Priceline and Zuji.Category Ecommerce Investments News