Travelio secures US$18 M Series B funding round led by Pavilion Capital, Gobi Partners, to serve temporary housing demand
Travelio, an Indonesia-based online residential real estate startup, announces that it has raised a US$18 million in Series B funding round co-led by Pavilion Capital and Gobi Partners. Existing shareholders also extend their support in the round.
Travelio will use the funding to “solidify its leadership position and further accelerate its growth”. It plans to invest in marketing, talent, and development of new product verticals to better serve tenants and property owners throughout the life cycle.
“We strive to be the go-to internet platform to meet the living needs of all Indonesians regardless of their duration of stay. We ensure high-quality units with full facilities and furnishing, affordable and flexible payment terms, and continued innovation of new verticals to satisfy consumer needs throughout their stay with Travelio,” said Hendry Rusli, Co-Founder and CEO of Travelio.
Travelio was founded by Hendry Rusli, Christina Suriadjaja, and Christie Tjong. It connects property owners and developers to potential tenants through its platform, wherein tenants can browse and instantly book a wide range of accommodations that are fully furnished in accordance with Travelio’s standards.
Travelio targets and seeks to answer the needs of Indonesian domestic consumers and expatriates’ rental needs, allowing its partners to monetise their vacant properties.
Travelio said that Indonesia’s rising middle-class population helps it to get in a position to serve the growing demand for temporary housing, urbanisation, and affordable living options.
Prior to this round of financing, Travelio raised capital from Vynn Capital, Insignia Ventures Partners, IndoGen Capital, and PT Surya Semesta Internusa Tbk, among others. In May 2018, it raised US$4 million Series A funding led by Vynn Capital.
Travelio notes that new services in the pipeline include interior design, daily necessities, financing, payments, and other logistic-related services into its ecosystem.