Startup KKday Gets Funding on Booming Taiwan Domestic Travel

Noble Horvath

Taipei-based travel startup KKday closed its latest $75 million funding round, helped by a pivot to domestic package tours after the Covid-19 pandemic devastated the global tourism industry this year. The Series C funding was led by Tokyo-based Cool Japan Fund and Taipei-based National Development Fund, while existing investors including […]

Taipei-based travel startup KKday closed its latest $75 million funding round, helped by a pivot to domestic package tours after the Covid-19 pandemic devastated the global tourism industry this year.

The Series C funding was led by Tokyo-based Cool Japan Fund and Taipei-based National Development Fund, while existing investors including Monk’s Hill Ventures and MindWorks Capital also participated. KKday, which previously focused on offering ground package tours at foreign destinations, saw sales plunge 90% to hit rock bottom in March but its shift to domestic tourists has since paid off, founder and Chief Executive Officer Ming Chen said in an interview.

“We were able to secure new funding because investors saw that we acted swiftly and that we were able to execute changes during a crisis,” the 47-year-old Chen said. “Taiwan’s domestic travel began to rebound in May, and it exploded in late June. We saw sales from domestic travel in Taiwan grow five times from the same period of last year in July and August.”

Next Post

Pandemic “Triple Shock” Hitting Economies Across Region

While economic activity is reviving in some countries, long-term threats to growth and poverty reduction remain [Download the report here] WASHINGTON, September 28, 2020—  Swift action will be needed to ensure that the pandemic does not hamper growth and increase poverty for years to come, according to From Containment to […]