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Vntrip secures funds from Jubilee Capital Management

Released at: 11:28, 27/05/2019

Vntrip secures funds from Jubilee Capital Management

Photo: Vntrip.vn

Online travel platform raises funding from venture capital fund.

by Ngoc Lan

Vietnamese online travel platform Vntrip, based in Hanoi, has successfully raised funds from Jubilee Capital Management.

Details were not disclosed, but Mr. Lam Le Dac, Co-founder and CEO of Vntrip, said Jubilee’s involvement broadens its investor base and positions the company well for future growth. “We are excited at the prospect of working with Jubilee as they bring additional resources and networks to Vntrip,” he added.

Jubilee’s founding partner Mr. Stanley Zhang believes that Vntrip has a successful and highly-scalable business model with a strong management team well suited to the fast-growing Vietnamese travel market. “This investment will allow Vntrip to continue its impressive growth trajectory to dominate Vietnam’s online travel market,” he added.

The other founding partner of Jubilee, Mr. Gan Fong Jek, said he has worked with and invested in many Vietnamese-originated founding teams and companies. “One key positive of the Vntrip team is its ability to combine international perspectives with local expertise,” he noted. “This combination has allowed Vntrip to respond to local market needs while simultaneously acquiring market knowledge and capital from more developed markets.”

Based in Singapore and mainland China, Jubilee is an active ASEAN - China cross-border venture capital fund that invests in early to growth-stage tech companies and empowers ASEAN startups with its global networks, particularly in China’s technology and internet-enabled industries.

It has observed the tremendous growth Vntrip has recorded in the last few years and believes this momentum will continue to accelerate given Vntrip’s capable and ambitious management team and the promising online travel market in Vietnam.

Based on Google & Temasek reports on Southeast Asia’s digital economy, the online travel market is one of the fastest-growing in Southeast Asia. The market is forecast to grow by 15 per cent CAGR, and Jubilee believes market penetration is quite low compared to regional peers, indicating upside potential.

Looking at the broader travel value chain in Vietnam, a booming aviation market and a strong government push on transportation infrastructure such as airports and highways are also crucial factors for online travel market growth to accelerate.

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