Asia travel search engine Wego gets $17m in Series C funding
Crescent Point has led a Series C round of funding worth $17 million for Wego, an Asia travel search engine. Victoria Capital and existing investor Tiger Global also participated.
This latest fund round brings Wego's total capital raised to $36 million.
The money will be used to invest in product development and marketing to hire more staff, according to a statement. Wego competes with sites like Zuji and Agoda, although it also embeds the others' search results in its own.
Paul Bassat from Victoria Capital and a representative of Crescent Point have joined the Wego board.
"We are pleased to be working with Ross [Veitch, Wego's co-founder] and the rest of the Wego team to assist their expansion across Asia and the Middle East," said Sami Sindi, a partner at Crescent Point.
Crescent Point is one of several private equity strategies operated by Crescent Group. It has offices in Shanghai, Singapore, Chengdu and Jeddah.
Victoria Capital invests in growth stage businesses focused on the technology, media, online and related industries.
More on Technology
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.