Leading travel search engine Wego.com has secured $17 million in growth capital through the completion of a Series C Preferred Share Offering. The investment round was led by Crescent Point with contributions from Victoria Capital and existing shareholder Tiger Global. This brings Wego’s total capital raised to US$36 million.
A pioneer in the travel metasearch space across the Asia-Pacific region from its base in Singapore, Wego is now active in 52 markets and 30 languages globally with a particularly large user base in the fast developing markets of Indonesia, India, Southeast Asia and the Middle East. Wego generates more than US$10 million per day of potential bookings for their travel partners and has experienced rapid growth in recent years.
“We’re delighted to welcome Crescent Point and Victoria Capital as new investors. We also wish to thank Tiger Global for being great partners and for their renewed support,” said Ross Veitch and Craig Hewett, Wego Co-Founders.
The company plans to utilize the additional capital to step up investment in product and innovation, grow the team with top talent at all levels, scale marketing to grow Wego into a leading online travel brand and an ever more valuable source of customers for Wego’s hundreds of travel industry partners. Simultaneous to the closing of this round, Paul Bassat from Victoria Capital and a representative of Crescent Point have joined Wego’s board of directors.