Online travel startup KKday raises financing from Alibaba Entrepreneurs Fund

Ming Chen, CEO of KKday.

Taiwan-based tourism platform KKday has raised an undisclosed investment form Alibaba Entrepreneurs Fund, a non-profit arm of Alibaba Group, that supports Hong Kong and Taiwan-based younger generation entrepreneurs with capital and strategic investment, according to media reports.

The financing comes five months after KKday raised $10.5 million Series B led by Japanese travel operator H.I.S together with its existing investor Hong Kong-based MindWorks Ventures.

Established in 2014, KKday helps travellers find different activities and experiences at their travel destination. From visiting a tourist hot spot to dinning and adventure sports, KKday allows affordable tourism options from over 500 cities around the world.

The platform looks to leverage on the $135-billion travel and tourism activity industry which is estimated to grow to $183 billion in 2020.

At a previous financing round raised by KKday, Ming Chen, CEO of KKday said the firm is focused on improving customer experience and strengthening relationship with its suppliers.

KKday is looking to improve its network in China and across Asia. It is also looking to grow the customer base in China as well as among western countries and the U.S.

Alibaba Entrepreneurs Fund was launched by Alibaba Group in 2015 with a fund size of HK$1 billion dedicated for Hong Kong and NT$10 billion for Taiwan.

Prior to the financing led by H.I.S, KKday raised a $7 million Series A plus round led by Monk’s Hill Ventures and AppWorks. Other participating investors are Mindworks Ventures, Cathay Venture and Substance Capital Limited. Its Series A round was raised at $4.5 million.

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