Korean travel tour and activity startup, MyRealTrip has revealed that it had secured additional investment through Silicon Valley company AltosVentures. For MyRealTrip, this new investment comes 1 year after the combined US$840 thousand investment from SmileGateInvestment and CapstonePartners in June last year. The funding will provide the needed foundations in launching the business globally.
MyRealTrip was founded in 2012 as a travel startup offering locals around the globe the opportunity to partake tour guide roles. Once registered, guides are able to post their travel product and the online platform provides the mechanisms for transactions to occur. From March this year MyRealTrip has extended its range of services and products to include tickets, activities and local travel related products.
MyRealTrip is showing steady and robust signs of growth with monthly sales figures up more than 4 times from the previous year. Currently, it provides more than 1,100 products in 214 cities around the globe.
Lee Dong Gun a representative from MyRealTrip said “the investment will be used to increase growth in the business of servicing Koreans travelling abroad. It will also be used to ensure all necessary preparations for expanding to foreign markets with global service capability were in place”.
On the topic of the key investment decision, a representative from AltosVentures explained that “the Asian travel market is expanding rapidly, with the field of tour and activity in which MyRealTrip targets showing great potential. As the mindset of travellers advances and matures the importance of this field becomes more apparent. MyRealTrip is a frontier in this field”.
This recognition echoes the Global Brain Award that was presented to MyRealTrip in Singapore during ‘Echelon 2015’ which is Asia’s largest startup conference.