Skyscanner, which also has an office in Singapore, will use the funds to accelerate growth and also for geographic expansion
Skyscanner, a global travel search engine with operations across various markets including Singapore, has secured £128 million (US$192 million) from a group of investors, including Malaysian government-backed Khazanah Nasional Berhad and existing investor Yahoo! Japan.
Other participant investors are Artemis Ventures, Baillie Gifford, Vitruvian Partners, Scottish Equity Partners, and Sequoia Capital.
The funding will help accelerate Skyscanner’s growth in the US$500 billion online travel market. In addition, it plans to expand to different virtual and geographic marketplaces around the world.
“Skyscanner has enjoyed high double-digit growth rates for some years now, and has been profitable since 2009. This success is thanks to our 1,200 direct partner relationships and the trust of the 50 million travellers who use us every month. This financing round and our recent new hires allow us to build fantastic further tools for travellers,” said CEO Gareth Williams.
Founded in 203, Skyscanner provides free search of flights, hotels and car hire around the world. It is available in 30 languages.
The firm employs over 700 staff and has ten global offices in Barcelona, Beijing, Budapest, Edinburgh, Glasgow, London, Miami, Shenzhen, Singapore and Sofia.
The post Malaysia’s Khazanah, Yahoo Japan invest in travel search engine Skyscanner appeared first on e27.
from e27 http://ift.tt/1Zhy0DI