Traveloka has secured a financing facility of $300 million from Indonesia Investment Authority, BlackRock, Allianz Global Investors, Orion Capital Asia, and other leading global financial institutions.

A joint release by INA and Traveloka said the financing round attracted significant interest from a number of high-quality long-term capital providers, resulting in an oversubscribed transaction.

The financing will support digital ecosystem growth in the travel sector and will allow the Indonesia-based OTA to grow further.

“The pandemic has accelerated digital transformation. Customer behaviour changes coupled with innovative technological services mean digitisation will help drive economic recovery. Supporting the travel sector with their unparalleled convenience and access, online travel agencies (OTAs) have further transformed the industry landscape during the Covid-19 pandemic. For e.g., OTAs have seen their share of Indonesia’s gross tourism booking increase from 24% pre- pandemic to 33% in 2021 with an expectation to reach 36% by 2024,” said INA’s CEO, Ridha Wirakusumah.

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