Taiwanese travel platform KKday closed Series C+ round, bringing its total C round to USD$95 million

2022-07-22 |
Taiwanese travel platform KKday closed Series C+ round, bringing its total C round to USD$95 million

KKday announced today that they have raised USD$20 million for Series C+ round, and the round led by TGVest capital, who focuses on investing in Taiwan and Japan, and connecting the two markets.

With the new funding, KKday will keep expanding to the global market and help the tourism industry to achieve digital transformation with their SaaS booking product - rezio. KKday mentioned that they aim to open over 300 positions including software engineering, marketing, business development, operations, and global marketing strategy. KKday is expected to have over 1000 employees in 2023.

Since March 2020, KKday has been promoting rezio in the Asia market. rezio is a SaaS solution for merchants to manage their booking and inventory. In June 2021, they successfully won customers from South Korea, as well as several famous tourist attractions from Japan. Now there are over 1600 tourism use rezio and has served over 2.7 million travelers.

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KKday has been exploring the market in Japan. Ming Ming Chen(right) / Photograph : KKday

KKday also actively partner with other tourism companies. They invested in last-minute booking platform FunNow in later 2021, as well as acquired the Japanese travel booking system Activity Japan. “KKday try to partner with tourism friends to provide innovative service for customers,” said Ming Ming Chen, CEO and founder of KKday.

In the past 2.5 years, the coronavirus disrupted the world economy and hit the tourism industry hard. Facing the Covid-19 pandemic, KKday overcame it with agile and innovative strategies.

According to Ming Ming, who led 2 companies to IPO before starting KKday, a key principle he practiced was to always plan for the worst. By always planning for the worst, KKday has been extremely disciplined in managing their cash flow and balance sheet. The key principle is to not sink short-term assets into long-term investments, optimizing for cash flow flexibility in return.

This played a major role in neutralizing the initial shock of the outbreak, allowing KKday to protect their brand and refund customers fully, despite a significant drop in revenue.

〔Original :Meet Global〕