Taiwanese Travel Startup AsiaYo Raises US$7M in Series B Funding
AsiaYo sets its sights on international expansion, as it collaborates with partners around the globe to build the “Best Vacation Rental Platform in Asia”
Taipei, Wednesday 5 December 2018: AsiaYo, the Taiwan-based vacation rental platform, has today announced a US$7m Series B funding round, led by Alibaba Taiwan Entrepreneurs Fund and China Development Financial, with participation from Darwin Ventures and Delta Ventures.
Launched in 2014 by a former financial analyst, CK Cheng, AsiaYo has quickly expanded to become the leading vacation rental platform, managing over 60,000 listings across 60 cities, and serving 300,000 members. From an original team of four, it now employs more than 100 people.
Available in English, Chinese and Korean, and working in collaboration with more than 50 partners globally, AsiaYo has also established its presence in Japan, Korea, Hong Kong, and Thailand, with overseas bookings accounting for 60% of the business. A Japanese site will be launching in 2019.
From North Asia to the Southeast Asia, the funding will be used to further fuel AsiaYo’s international ambitions, with activations in Singapore and Malaysia expected in early 2019. This will be supported by ongoing product development and talent acquisition as AsiaYo sets its sights on attracting millennials to the hospitality and tourism industry.
“With rapid economic development across Asia, we have seen a significant rise in inter-regional tourism — AsiaYo has capitalized on this trend, demonstrating its growth potential,” said Andrew Lee, Executive Director of the Alibaba Taiwan Entrepreneurs Fund. “We’re currently working with AsiaYo to further develop technological capabilities in the travel industry.”
CK Cheng, Founder and CEO at AsiaYo added, “This latest round of funding will help us to realize our international ambitions as we expand across the region. We’ve always aspired to be the very best vacation rental platform in Asia, bringing together a network of global partners, cutting-edge technology and localized services to inspire travelers to step out of their comfort zones and uncover the beauty hidden in this region.”
AsiaYo’s international expansion plans mark the company’s latest goal, with previous initiatives including:
• Partnerships: AsiaYo partners with brands including Hong Kong Airlines, KKday, Neppan, Taiwan Host Association and Rakuten LIFULL STAY — Japan’s premier holiday rental booking platform, to deliver hyper-personalized journeys for members.
• AI integration: Leveraging customer behavioral insights, AsiaYo has developed AYSort — an algorithm powered by AI technology to analyze user preferences and develop curated recommendations for its members. Since implementation, AsiaYo has seen a 15% increase in conversions, as well as enhanced user loyalty.
• Customer services: AsiaYo is committed to providing convenient, friendly and timely customer services. Available on LINE, Facebook, WeChat as well as dedicated helplines, the multi-lingual team acts as a bridge between landlords and holiday renters to ensure all queries, no matter how seemingly small, are addressed. AsiaYo also verifies all listings before they go live, ensuring accuracy of descriptions and quality of accommodation.
Thank You Promo Code
To celebrate its successful funding, and as a thank you to all supporters, AsiaYo is offering an exclusive discount. From 6 to 8 December, enjoy an 11% discount on any reservation by using the promotion code “AsiaYo”.
Launched in 2014, AsiaYo is a leading vacation rental booking platform based in Taiwan. With more than 60,000 rooms available in 60 cities across Taiwan, Hong Kong, Japan, Korea and Thailand, AsiaYo inspires travelers to step out of their comfort zones with unique accommodations and experiences, helping them to uncover the beauty of Asia. For further information, please visit: https://asiayo.com