Ethan Lin: “This raise isn’t just about capital, it’s about confidence”
Barely more than a year since it raised $210m in December 2023, Klook, the leading platform for experiences and travel services in Asia, has announced US$100 million in funding led by the global growth investment firm Vitruvian Partners.
Commenting on the narrow window between the two fund raises, CEO and co-founder, Ethan Lin, told WiT, “This raise isn’t just about capital – it’s about confidence. These funds further strengthen Klook’s market leadership and financial position as we scale for our next decade of growth.
“Just as important is what Vitruvian brings beyond funding – deep expertise and knowledge in the travel sector. Their partnership reinforces our ambition to deepen our leadership in Asia Pacific while expanding our reach.”
Vitruvian is not new to the tours and activities sector.
The fund is reported to have invested $100m in Civitatis, the marketplace for guided tours and activities for Spanish and Portuguese speaking consumers, in April 2022, and topped it up with an additional $50m in June 2024. At the time, Civitatis said it would focus on growing its business across Spain and Latin America with a focus on Mexico, Brazil and Argentina.
This investment in Klook gives Vitruvian, with offices across London, Stockholm, Munich, Madrid, Luxembourg, Mumbai, Singapore, Shanghai, Miami, and San Francisco, managing approximately $20b of active funds, strategic interests in two strong travel brands in two strong, emerging regions.
New Funds To Fuel Expansion Beyond Asia
The press release issued by Klook said that its investment “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”.
Klook has also signalled intentions to expand beyond Asia Pacific to Western markets. During his on-stage interview at WiT Singapore last October, Lin had said, “Klook’s vision extends beyond Asia, aiming to build a global platform that serves travelers worldwide. Travel is always a global business. The bigger the network, the more parties, the more consumers to share the cost. So the nature of travel is to go global from day one.”
Asked by WiT how Klook intended to compete with established giants such as Viator in the US as well as competitor GetYourGuide which is also expanding aggressively in the US, Lin said, “Travel scales best when multiple origin markets connect with top destinations, and Klook is uniquely positioned to drive that growth.
“As the leader in Asia Pacific, we are leveraging our supply strength to attract more Western travellers to the region. Japan, in particular, is a key focus for us, and we are deepening our supply and broadening our services to meet increasing demand.”
Driving The Next Phase of Growth
Klook marked its 10th anniversary in 2024 by undertaking a report with Oxford Economics, which measured its contribution to the Asia Pacific economy – US$7.2 billion in GDP and supporting over 219,000 jobs in the region.
According to recent forecasts by PATA, international visitor arrivals in the region are expected to grow from 619 million in 2024 to 762 million by 2026, surpassing previous highs in 2019. This resurgence, coupled with evolving traveller behaviors-including a growing preference for experiences over material goods-positions Klook to capture significant market share as a trusted platform for experiences and services across the region, added the press release.
“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.”
“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,” said Sophie Bower-Straziota, Partner at Vitruvian Partners.
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.
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.
Vitruvian Partners’ portfolio companies include Just Eat, EasyPark, Skyscanner, Wise, Global-e, CFC, CRF Health, Civitatis, Darktrace, and Bitdefender.
