Go Zayaan, an online travel agency (OTA) startup in Bangladesh, has raised US$2.6 million in a seed round led by Wavemaker Partners.
The round saw participation from other SEA-focused VCs, including 1982 Ventures and Iterative, and angels such as Airbnb China CEO Kum Hong Siew, former Airbnb APAC managing director JJ Chai, and five former Priceline executives.
Liechtenstein-based private investment company Century Oak Capital also joined.
Focusing primarily on the Bangladesh market, Go Zayaan plans to use the fresh capital to improve user experience, attracting new talents, and expand its customer base and travel service network.
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Founded in 2017 by digital marketing-savvy entrepreneur Ridwan Hafiz, Go Zayaan works with local airlines, inter-city bus firms, hotels and tour operators to bring more travel services online.
The startup aims to bridge the gap between offline and online travel services by creating a holistic travel booking infrastructure, including financing, transport modes and lodging options, and integrations with the country’s mobile financial services industry.
While OTAs only take up about 4-6 per cent of the total travel market in Bangladesh, travel suppliers are catching on fast with digital technology adoption in recent years.
During the pandemic, as tourism face headwinds, Go Zayaan decided to focus on domestic tourism and boasts of achieving a 5X growth in the past 12 months.
The startup also claims to have clocked over 500,000 monthly active users and 40 per cent returning customers to date.
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Image Credit: Go Zayaan
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