Samsung Ventures invests in Indonesia’s proptech firm Travelio

A property listed on Travelio's website. Photo: Travelio

Indonesia-based property technology startup Travelio announced on Thursday that Samsung Venture Investment Corporation has joined the company’s Series B funding round.

Samsung Venture Investment Corporation is the venture capital arm of South Korea’s conglomerate, Samsung Group. This is the second Samsung Ventures’ investment in Indonesia following its investment in Gojek last year.

The company said that Samsung Ventures’ investment would enhance Travelio’s business target in 2020 through deeper integration and partnership with the conglomerate’s network, technology and the electronic related ecosystem.

“We are very fortunate to have Samsung as the latest addition to our shareholders. Their track record and expertise will help to gear us up to be a globally recognized and reputable firm,” said Travelio CEO and co-founder Hendry Rusli.

The investment is a follow-up announcement after the firm secured an $18 million in Series B funding round co-led by private-equity firm Pavilion Capital and Gobi Partners.

Existing backers, including IndoGen Capital, Vynn Capital and Insignia Ventures also participated in the Series B round. The company also joined the $4 million series A funding round in May last year.

The company, which started as an accommodation-sharing platform for travelers, has evolved into an online residential real estate platform for local and expat tenants looking for temporary housing and affordable living options.

Travelio works with property owners and developers to help manage and monetise their vacant properties. The company claims to have partnered with nearly 5,000 properties across the archipelago.

The company said in a statement that the fresh proceeds will be allocated for marketing, talent acquisition, and development of new product verticals to better serve tenants and property owners.

It also expects to launch new services, including interior design, daily necessities, financing and logistics-related services.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.