My Real Trip Co., Ltd., the operator of the prominent Korean travel super app, has successfully raised a substantial 75.6 billion won ($56 million) in investments from domestic and international firms, marking a significant milestone for the South Korean travel tech company.
The funding round saw participation from notable global investment entities, including BRV Capital Management, Korelya Capital from France, Partech Partners, and Vanderbilt University in the United States. On the domestic front, SV Investment and Samsung Securities joined the funding initiative. Existing stakeholders such as IMM Investment, Altos Ventures, and Smilegate Investment also continued their support.
Particularly noteworthy is the participation of Korelya Capital, which, known for backing leading European travel unicorns like ‘Get Your Guide,’ made its first foray into the Korean market through this strategic investment.
Business Growth & Expansion Plans
With the newly secured funds, My Real Trip aims to fortify its super app strategy, emphasizing enhancements to existing services and developing new ventures such as package services and B2B sales. Negotiations with additional investors are underway, with expectations of further fund influx during this round.
My Real Trip has earned recognition in the capital market, raising approximately 200 billion won ($150 million) in funds post-pandemic, underscoring its perceived future value and business feasibility. After achieving monthly break-even last summer, the company concluded the year with an annual transaction volume of 1 trillion won ($75 billion). January is projected to mark a historic high with an estimated transaction volume and profit of 140 billion won ($101 million).
In 2023, the company excelled in the aviation and lodging sectors, securing the 3rd position in airline ticket reservations based on the Passenger Sales Settlement System (BSP). Additionally, global acknowledgment came in the form of Forbes Asia’s inclusion of My Real Trip among the ‘Top 100 Companies to Watch in 2023.’
Expressing gratitude for the support, CEO Lee Dong-gun stated, “We are grateful for the interest and support of leading domestic and foreign investment companies, as well as existing shareholders who believe in our business performance and high growth potential and continue to make follow-up investments.” He added, “We will become Korea’s best travel super app through this investment. As always, We will strengthen our position and do our best to satisfy our customers.”
My Real Trip expanded its business portfolio in the past year by venturing into the package market. The company is also rapidly extending its reach into the family and inbound travel markets through strategic acquisitions, including platforms like iwatrip and starttrip.
Also Read,
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- MyRealTrip to launch overseas accommodation reservation service with 600,000 properties worldwide
- MyRealTrip adds K-Pop-themed tours with the acquisition of local rival Startrip
- MyRealTrip: The leading Korean platform that meets all travel needs
- Top Korean Venture Capital Firms Backing Startup Success
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