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Vietnamese travel startup receives $500k from Shanghai-based fund: report

Friday, February 19, 2016, 10:56 GMT+7

A Vietnamese travel startup has received an investment worth half a million dollars from a China-based venture capital firm, a report said.

Ho Viet Hai, co-founder of traveltech startup Triip, told tech newswire Tech in Asia on Thursday about a US$500,000 investment deal with Shanghai-headquartered fund Gobi Partners.

Hai and his wife, Lam Thi Thuy Ha, founded Triip in 2013 in Ho Chi Minh City with the money they got from selling their house.

The couple envisioned a break from conventional travel and sought a way to connect travelers with their destination on a more intimate level through trips designed by local individuals.

Triip is able to do this by offering a platform where users sign up to become Triip Creators, design custom tour packages, and make money when travelers go on their tour.

These tours range from exploring aspects of local culture such as art, music, food, history and scenery, to more tailored experiences oriented toward travelers with special interests such as adventure, technology, jewelry, sports, and more.

The company plans to invest the newly raised capital in human resources, marketing, and market expansion to attract new users.

According to Hai, the funding will keep the company running for at least the next 18 months. As of February, Triip generates approximately $10,000 in revenue each month.

The seed funding from Gobi Partners, which has previously backed other soaring travel startups in China and Indonesia, means more to Hai than just a sum of money and he hopes to tap into the investor’s reputation and experience in the field of travel to continue to add value to Triip.

Triip is currently available in 86 countries, offering tours in 600 cities designed by over 9,000 passionate Triip Creators.

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