Hong Kong Travel Startup ‘Klook’ Raises Seed Round to Fund Mainland China Expansion Plans

klook
For those that enjoy planning trips almost as much as the actual traveling itself, there’s a startup we want you to meet.

Klook, a carefully curated activity-booking platform, was founded by Eric Gnock Fah, Ethan Lin and Bernie Xiong – three wanderlusters with impressive domain experience. Before jumping into the entrepreneurial realm, Gnock Fah was an analyst in consumer retail and China-focused public equities while Lin brings investment banking advisory know-how for the hospitality and real estate sectors. As the technical co-founder, Xiong has years of mobile development experience for both a startup and an R&D lab under his belt.

Just six months in, Klook has grown considerably with a full-time team of eight and concrete plans to expand into Mainland China. As almost 100 million Mainlanders traveled abroad in 2013 and spent a whopping US $128.7 billion in 2013 – the Chinese outbound tourism market is incredibly lucrative for startups like Klook.

Without wasting any time, Klook raised a seed round of several hundred thousand US dollars in August mainly from a strategic Mainland investor with strong ties to the Chinese tourism industry. The founders are tightlipped about the deal particulars for now, but promise to reveal more in future interviews. [Read more…]