GREE leads US$4.5mil Series A-1 round in HotelQuickly
By Digital News Asia July 10, 2014
- US$4.5mil raised in Series A-1 round, following US$1.15mil Series A
- Funds to accelerate product development, marketing, and hiring
HONG Kong's HotelQuickly has secured US$4.5 million in a Series A-1 financing led by GREE Inc with participation from William E. Heinecke, chief executive officer (CEO) and chairman of Thailand-based hospitality company, Minor International.
The investment follows a US$1.15 million Series A round in August 2013, bringing HotelQuickly’s total funds raised to date to more than US$5.5 million.
The last minute hotel-booking app startup, headquartered in Hong Kong, aims to use the fresh capital to accelerate its product development, marketing, and hiring to drive sales across the Asia Pacific and to secure its lead in the region.
Heinecke, who participated through his family office, said that there was a clear shift from online to mobile and as traditional booking channels lose ground, there is “tremendous opportunity” for a s last minute hotel-booking service in the region.
“We’re seeing HotelQuickly is best positioned to capitalize on this movement. I have faith in the executive management and I’m excited to be backing this adventure together with GREE,” he added.
Tomas Laboutka (pic), co-founder and CEO of HotelQuickly expressed delight to count GREE and Heinecke among its investors, which includes Boon Hwee Koh, former chairman of SingTel and Singapore Airlines.
“We can benefit a great deal from both of their experiences and be able to further accelerate thanks to their commitments. Hotel Quickly is actively shaping the last-minute hotel booking space in Asia-Pacific, and we are excited to embark on the journey ahead of us with confidence that we are in good company,” he added.
GREE, a global mobile social company, recently launched its own Japan-based last-minute booking service, Tonight.
This investment forms the basis for a partnership between the two companies, aimed at enhancing their respective services through personnel exchange, the sharing of technical expertise, and other forms of collaboration.
GREE board member Eiji Araki said that HotelQuickly has expanded at a phenomenal pace this past year to emerge as the clear leader in last-minute bookings in Asia-Pacific with more than 3,000 partner hotels and 100 destinations.
“This is a great opportunity for GREE to take part in that growth story, while teaming up with the world-class talent at HotelQuickly to accelerate our own entry to this space.
“Our two companies share a mobile-first approach, so this partnership is a natural fit. I’m looking forward to seeing what we can achieve together,” he added.
Launched in March 2013, HotelQuickly boasts customer base of more than 150,000 registered users and 300,000 downloads, and claims to be the most popular last-minute bookings app in the 12 markets where it is available.
Markets include Indonesia, Singapore, Hong Kong, Thailand, Malaysia, Australia, and New Zealand. In Indonesia, the app covers around 20 destinations including Jakarta, Bali, Bandung, Surabaya, and Yogyakarta. The app supports Bahasa Indonesian and English.