• Skip to main content
  • Skip to secondary menu
  • Skip to footer

Travel Marketing

your source of travel inspiration

  • Travel Marketing
  • About
  • Make a Contribution
  • Contact

Yanolja, South Korea’s leading travel and leisure platform, has completed a USD 1.7 billion investment round by SoftBank

July 15, 2021 By admin Leave a Comment

Yanolja Raises USD 1.7 billion in new funding from SoftBank Vision Fund 2
New funding to strengthen technology capabilities and continue leading digital transformation of the global travel and hospitality industry

SEOUL, South Korea – Yanolja (CEO & Founder LEE Su Jin), South Korea’s leading travel and leisure platform, has completed a USD 1.7 billion investment round by sole investor SoftBank Vision Fund 2*, one of the world’s largest technology-focused investment funds.

By utilizing IoT, AI, big data and blockchain technologies, Yanolja has been accelerating the digital transformation of the global travel and hospitality industry through its innovation, cloud-based platform. Yanolja provides travel super app service including accommodation, leisure, transportation, and restaurant, and has become one of the fastest growing travel sector unicorns across the globe.

In South Korea, Yanolja spearheaded the digitization of the domestic travel industry through its “Travel Super App” strategy, while globally, the company has focused on the growth and expansion of its cloud-based hospitality solutions business. Despite the COVID-19 pandemic causing significant decline in travel businesses globally, Yanolja achieved both net growth and gains in operating profit last year, setting a solid foundation for sustainable growth.

The investment will enable Yanolja, who is already South Korea’s No. 1 Travel Super App and the No. 1 global travel cloud solutions company, to scale and continue leading the digital transformation of the global travel and hospitality industry, which is estimated to be USD 3 trillion. Yanolja plans to use the funding to invest in the development of innovative technologies and to expand its technology offerings in new markets. In particular, Yanolja plans to build and operate a more advanced global travel platform (GTP) by upgrading and enhancing its automated solutions using artificial intelligence and personalized offerings based on big data.

“Powered by AI, we believe Yanolja is a leader in transforming the travel and leisure industry in South Korea through its Travel Super App approach,” said Greg Moon, Managing Partner at SoftBank Investment Advisers. “We are delighted to partner with Lee Su Jin and the Yanolja team in their quest to expand into new markets and drive further innovation in the travel and leisure industry.”

LEE Su Jin, CEO of Yanolja, noted “I am delighted that Yanolja, together with SoftBank Vision Fund 2, can collectively pursue and realize our goal of making the global travel and hospitality markets hyperconnected through technology. We will accelerate digital transformation in this sector as the global leading hospitality Tech Company and Travel Super App, by fully leveraging our unique technological capabilities.”

About Yanolja
Yanolja is the fastest-growing No.1 OTA, and the only ‘Unicorn’ among travel related companies in South Korea. In the platform business, as a ‘Super App’, Yanolja provides all services for travel including accommodation, leisure, and transportation. Yanolja is now also one of the global Top 2 PMS providers by effectively utilizing IoT, AI, big data and blockchain technologies. It has integrated entire hotel operations, covering from front office to back office. Yanolja connects the B2B2C value chain of the global hospitality industry with a one-stop network and integrates it into a single platform.

*As of the date of this press release, SoftBank Group Corp. has made capital contributions to allow investments by SoftBank Vision Fund 2 (“SVF 2”) in certain portfolio companies. The information included herein is made for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy limited partnership interests in any fund, including SVF 2. SVF 2 has yet to have an external close, and any potential third-party investors shall receive additional information related to any SVF 2 investments prior to closing.

SOURCE Yanolja
https://www.yanolja.com/

Related

Filed Under: Travel News Tagged With: South Korea, travel app

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Footer

Recent Posts

  • Deloitte: Leisure Travel to Take Off This Summer
  • Travelers are having second thoughts about enduring the world’s longest flights
  • Norwegian Cruise expects positive current quarter operating cash flow
  • Post-pandemic travelers flock to boutique hotels
  • Inspirato, the Innovative Luxury Travel Subscription Brand, Closes Transaction to Become Publicly Traded
  • How can EU funding help your tourism business become more sustainable and digital?
  • Indonesia will reopen Bali to all foreign visitors this week
  • The future of cruises is smaller and more purpose-driven
  • Travel Insurance: Is It Actually Worth Buying?
  • Good Old Vienna

RSS Travel Magazine

  • Bonjour from Paris!
  • Get your legs ready for summer
  • Tourist Traps Among Biggest Travel Nightmares for U.S. Consumers
  • Peru’s Beautiful Attractions Are Safe and Ready for International Travelers
  • Indonesia and Singapore are starting quarantine-free travel between the two countries
  • What makes Cebu a top destination for ecotourism in the Philippines
  • Neuschwanstein Castle, Füssen, Germany
  • Megalithic boulders of Sacsayhuaman in Cuzco, Peru
  • Rome tourists can cool off like emperors at Domitian’s palace
  • Tips for Photographing a Vacation with Your Smartphone

Media Partners

  • Event Calendar
  • Calendarial
  • Domain Market Research
  • Domain Aftermarkets
  • Event Sharing Network
  • S3H
  • VPNW
  • Press Media Release

Copyright © 2015 TravelMarket.org

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
Cookie SettingsAccept
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT