The market for premium travel is set to experience significant growth as travellers increasingly seek personalized tours over inconvenient package tours tailored to groups or free tours that require extensive research and preparation. Korean startup BeSpoke operates On Vacation as a chat-based concierge service where travel experts assist travelers in making reservations and providing optimized and customized tours.
BeSpoke has attracted Pre-A investment from Fast Ventures. The investment amount is confidential. On Vacation customers can easily make travel consultations and reservations through chat, which sets the platform apart from traditional travel agencies.
On Vacation’s market focus is on the domestic premium customized travel market in South Korea, which is estimated to be worth about 10 trillion won. The platform has expanded its services to overseas travel destinations, and currently, it has more than 300 BeSpoke tours being paid per month. Travel destinations with high unit purchase prices such as Europe and the Americas see a 20% monthly increase in transaction value.
The CEO of On Vacation is Young-seok Kang, who is a serial entrepreneur in the travel tech field and has experience working with companies like Naver and Yanolja. The platform collaborates with marketing experts from Cheil Worldwide and development personnel with experience in selling AI-based startups to innovate the premium travel market.
Kang Young-seok, CEO of On Vacation, said, “Through this investment attraction, we will advance the customized travel platform and system so that various external partners can provide quality customized travel to On Vacation customers.”
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