MyRealTrip, South Korea’s leading tour and activity platform, has received ₩7 billion (US$6.2 million) investment from five VCs, bringing its total funding to ₩12.3 billion (US$10.9 million).
The new investors are SmileGate Investment, Altos Ventures, Imm Investment, Mirae Asset-Naver Fund and IBK Capital.
Donggun Lee, CEO and founder of MyRealTrip, said the new funds would be used to accelerate its expansion and develop new content to deliver more experiences to travellers.
Donggan Lee: Use new funds for expansion
“In addition to that we are planning to extend our service in the passenger flight aviation sector next year,”
Insoo Baek from Smilegate Investment said: “With its remarkable growth MyRealTrip takes a significant place not only in the domestic market, but also in the overall Asian markets.
“We see lots of potential and opporunities in this fast-grwoing and increasingly influential market as the number of travellers are increasing on a large scale every year.”
MyRealTrip achieved gross merchandise value (GMV) of ₩6.5 billion (US$5.7 million) in September, with expected ₩5 billon (US$4.4 million) of sales on average in the third quarter of 2017. The company made a significant achievement last year with 700% sales increase compared to 2015.
Lee launched MyRealTrip in 2012 while a student at Korea University. In five short years the company has become a go-to-marketplace for all things travel among Korean tourists. Currently it provides over 11,000 tours and activities that connect travellers with local guides or destination experts in 400 cities around the world. Its other services include tickets and passes to tourist attractions, accommodation and car rentals.
MyRealTrip was WIT Japan Startup Pitch winner of 2014.
