Taiwan's KKday receives $7m bridge round

According to a statement, Hong Kong venture capital firms MindWorks Ventures and Substance Capital as well as Cathay Venture, a division of Taiwanese banking services provider Cathay Financial, also participated in the round. It follows an initial $4.5 million Series A commitment by AppWorks earlier this year.

The capital will be used primarily for scaling across 10 countries, largely in North Asia and Southeast Asia, including a marketing push into Vietnam, Thailand, Indonesia and the Philippines. The company currently operates out of offices in Hong Kong, Malaysia, Korea, Japan and Singapore.

Founded in 2015, KKday provides an online platform for connecting customers with local tour operators. This services facilitates access to some 6,000 tours across 174 cities in 53 countries. The company claims to have increased revenue nine-fold between the third quarter of this year and the prior corresponding period.

Monk's Hill closed its debut fund earlier this year at $85 million, having targeted $80 million. The vehicle focuses on Southeast Asian start-ups in sectors including cloud computing, software, internet-of-things, big data and analytics, as well as mobility and enterprise apps.

AppWorks aims to service an early-stage gap in Taiwanese start-up development with $61 million in funds under management and what is said to be Asia's largest start-up accelerator. Recent regional activity includes participation in a $10 million round for Hong Kong van rental app developer Lalamove alongside Mindworks.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• Greater China
• Consumer
• Technology
• Early-stage
• Taiwan (China)
• Monk's Hill Ventures
• Venture