Japanese airport transfer marketplace SmartRyde has raised $3.39 million in a Series A+ funding round, while Indonesia-based online home-renting platform Travelio has raised funding in an undisclosed Series C round.
NVenture leads SmartRyde’s Series A+ round
SmartRyde has raised $3.39 million in a Series A+ funding round led by the Japan-based subsidiary of NEC Capital Solutions, NVenture Capital.
SMBC Venture Capital, a Japanese finance company; along with Yamaguchi Capital, Hiroshima Venture Capital, Shigagin Regional Revitalization SD Fund, and Iyogin Capital participated in the funding round. The company also secured a subordinated loan from Japan Finance Corporation.
SmartRyde plans to use the new funding to expand corporate functions and product development. The company also aims to increase the number of inbound tourists to Japan by utilising the OTA network of the largest scale in the country.
SmartRyde also published a new product called ‘Developer Portal for API’ which will allow online travel
agencies and airline companies to access the airport transfer network and offer their customers airport transfer services with hotel reservations and flight bookings.
Founded in 2017, SmartRyde is a marketplace that provides pre-booked airport transfer services to over 700 airports worldwide. The company aims to streamline vehicle allocation systems and methods of inventory management that have remained unchanged in the taxi and limousine industry for a long time.
Travelio’s Series C round led by Korean group
Travelio has raised funding in an undisclosed Series C round led by a large Korean financial group, according to a release. The round was also participated by Korea-based DAOL Ventures, Thai conglomerate PTTOR and 500 Global-backed Orzon Ventures, Taiwan-based Appworks, and existing investor Temasek’s Pavilion Capital.
Travelio plans to use the fresh capital to launch a new vertical in the rent-to-own sector and expand to other Indonesian cities this year. The company currently manages more than 15,000 properties in 12 cities, including Jakarta, Tangerang, and Bekasi.
The company had closed its Series B funding round of $18 million co-led by Pavilion Capital and Gobi Partners in 2019. IndoGen Capital, Vynn Capital, and Insignia Ventures had also participated in the funding round.
Founded in 2015, Travelio is an online short- to medium-term home rental operator based in Indonesia. Aside from providing fully-furnished apartments, Travelio has expanded its products to unfurnished apartments and houses.