SINGAPORE - Traveloka, South-east Asia's largest online travel app, announced on Tuesday it had raised US$250 million to help bolster its operations amid the coronavirus crisis, and as domestic travel starts to pick up in the region of 650 million people.
Earlier backers include US travel giant Expedia, Chinese online retailer JD.Com and Singapore state wealth fund GIC. The start-up cut jobs, with one of its affiliates, Indonesian hotel aggregator Airy Rooms, shutting down. "Our business in Vietnam has returned to 100% pre-COVID-19 level and Thailand has surpassed 50 per cent pre-Covid-level," Traveloka co-founder and CEO Ferry Unardi said in a statement.Thai authorities unveiled in June a US$722 million subsidy to spur domestic travel, while both Vietnam and Singapore have announced extensive local tourism promotion campaigns.
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