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Allmytour Secures KRW 1 Billion Bridge Round for Global Expansion, Enhanced Services

2024-05-03 2 min read

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Allmytour Secures KRW 1 Billion Bridge Round for Global Expansion, Enhanced Services

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South Korean traveltech company allmytour, which operates the global accommodation booking platform allmytour.com, has secured a KRW 1 billion pre-Series A bridge investment from Shinhan Venture Investment and Korea Investment Accelerator. This investment follows last year’s pre-Series A funding, serving as a bridge round leading into a Series A planned for early next year. Allmytour will use the funds to strengthen its global accommodation supply chain, enhance its global cloud channeling solution, and launch a dedicated global app to provide higher-quality services.

Founded in November 2020 during the peak of the pandemic, allmytour is a travel startup that launched and operates South Korea’s first accommodation subscription service, Awesome Membership, allowing users to book hotels and resorts worldwide at cost price without platform fees. In the three years since its launch, allmytour has recorded about 350,000 cumulative bookings and achieved approximately KRW 24 billion in revenue. The number of global accommodations available on its platform increased by 900% in the first quarter, exceeding 2 million. Additionally, it runs a channeling business supplying 5-star premium hotel stay packages to major domestic commerce companies like CJ and SSG.COM, rapidly increasing transaction volume.

Since the second half of 2023, allmytour has expanded its channeling business globally, targeting overseas travel agencies and B2B partners with a global cloud channeling solution. It has developed an API system that enables real-time checking and sales of accommodations, based on direct contracts with domestic hotels, supplying this channeling solution to 120 partners across Asia, including China’s commerce company Meituan and Hong Kong’s corporate travel agency Westminster.

Allmytour CEO Seok Young-gyu stated, “Our ultimate goal is to reduce the time and energy travelers spend comparing accommodation prices during the planning stage. We aim to grow into a company with a presence not only in the domestic market but also globally.”

Nam Woo-hyun, an investment officer at Korea Investment Accelerator, added, “With lifestyle changes, the importance of leisure is expected to increase, and tourism will emerge as a key pillar. Allmytour has developed an API integration system tailored to global hotel standards, leveraging its expertise in the hotel industry and IT technology, and we expect rapid growth in the global tourism market.”

[Korean Traveltech Startup News]


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