KUALA LUMPUR: Malaysia's travel startup, Tourplus Technology Sdn Bhd, which operates an online marketplace for travelers providing personalised itineraries linking them to local guides, has secured a US$1 million (RM4.1 million) in seed round.
Tourplus said the parties in the syndicated investment took the lead from Jin Hui Wong, a Malaysia-based business angel, together with a Malaysian corporation GT-MAX, followed by venture fund SOSV and its accelerator Chinaccelerator, and a few other undisclosed investors.
Chief executive officer and founder, Rickson Goh, said that 40 per cent of the investment portion is allocated towards the product platform expansion and refining their technology solution.
"About 30 per cent is allocated towards marketing effort in their bid to expand market base by securing clients and establishing their brand across the region and 30 per cent of the funds is towards building the manpower strength," he said in a statement today.
Meanwhile, lead investor Jin said: "We are optimistic with the development that Tourplus is showcasing. Although the travel-related business has been heavily affected at the moment, we think the post-pandemic situation will be like China where the domestic tourism rebounded over the Golden Week holiday.
"We are encouraged by the team’s tenacity and the positive outlook of the Southeast Asia (SEA) tourism market in the near future which we believe will rebound as well.”
Founded in 2015, the startup pivoted to a more market friendly mobile app in 2018 with a tour guide-focused app targeting a 300 per cent revenue increase at the time.
To date, Tourplus has managed to build a strength of over 3,000 registered tour guides all over Malaysia and SEA with a hit of 10,000 users within the 2019-2020 time frame.
Tourplus provides certified driver guides and customisable itineraries that are reviewed by other travelers around the world. - Bernama