Vietnam’s online travel app Vntrip raises third round from Swiss IHAG Holding

Photo: illustration/Internet Archive

Vietnamese online travel agency Vntrip.vn has raised funding from Switzerland’s IHAG Holding in a round that sees its valuation go up to $45 million, Vntrip founder and CEO Le Dac Lam confirmed to this portal.

Financial terms were not disclosed.

This is the third funding round of Vntrip which raised $3 million in a series A funding from a small consortium of overseas investors led by former Alibaba veteran John Wu in 2016. The online travel agency also secured an undisclosed investment from Hendale Capital, a Hong Kong-based late-stage investment firm in 2017.

IHAG Holding Corp operates in the real estate sector in Switzerland. It invests in office buildings, commercial properties and hotels, resorts, vineyards, and integrated agricultural activities.

According to Vntrip, the third round would help the company to increase its resources and grab greater share in the online air ticket sector.

Vntrip.vn is one of the largest website booking system and hotel online in Vietnam. Vntrip.vn originally built the company in partnership with Booking.com.

After that, Vntrip.vn partnered with Expedia, Booking.com’s competitor, to increase its room availability. However, the travel agency has built its own network of more than 10,000 hotels across the country now.

Prior to Vntrip.vn, several booking and tourism startups from Vietnam or having operations in the country have raised venture capital funding within the year.

Vietnam’s Triip in April announced that it raised an undisclosed sum of funding from Japanese strategic investor Gaiax and individual investor Nguyen Duy.

This is the second funding round raised by the company after it bagged $500,000 in a round led by venture capital firm Gobi Partners in 2016. In a statement, Triip said that the latest financing sees its valuation jump to $10 million from $2 million in 2016.

Also Read:

Vietnam: Hong Kong-based Hendale Capital invests in online travel agency Vntrip

Vietnam’s hotel booking app Vntrip grabs $3m from former Alibaba CTO, others 

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.