Travelio Targets 20 Thousand Property Listings After Obtaining Series A Funding of 56 Billion Rupiah

Travelio, a local private property rental online platform, announced a series A funding round of $4 million (or equivalent to IDR 56 billion). The value is double when compared to the last funding pre-series A obtained in the middle of 2016. This investment was led by Vynn Capital, supported by Insignia Ventures Partners, Fenox Venture Capital, IndoGen Capital, and Stellar Kapital.

This funding will be focused on accelerating growth, talent acquisition, product innovation and opening up new vertical opportunities. Since deciding to focus as an asset leasing platform private property in Indonesia (such as Airbnb), Travelio admits that they are more focused on improving the functionality of their current mobile and web applications. So far there are no new features, except for a Virtual Reality (VR) based experience for customers.

"For the VR feature is very helpful customer us, especially for customer who want to stay for weeks to months. Very helpful to give look and feel of the property that we offer," said Managing Director of Travelio Hendry Rusli to DailySocial.

Hendry continued, with this new funding, his party has not thought about expanding its services. The focus is now on increasing the number of properties on the Travelio platform. Currently there are at least more than 4 thousand property listings on the platform, Hendry and his team target that in 2018 it will grow at least five times, or equivalent to 20 thousand property listings.

Another strategy that Travelio will also begin to strengthen is establishing strategic partnerships with communities, authorities, associations and property developers.

Travelio himself is optimistic about the property listing service he carries. This is in line with what was expressed by Hendro Gonodkusumo as CEO of PT Intiland Development Tbk. The company partners with Travelio to increase the usability of the properties owned. According to Hendro, the property industry does need innovative technology to enable idle properties to be utilized and generate cash flow.

"Travelio solves the void problem faced by property developers while providing affordable accommodation to its customers. The team has demonstrated its ability to provide operational and technological excellence. We believe that its innovative business model will emerge as a winner in the landscape. accommodation-sharing in Indonesia," said Yinglan Tan, Founding Managing Partner of Insignia Ventures Partners.