Tripbtoz, Inc. announced a private placement raising KRW 2.99982 billion. On August 13, 2021 the company issued 5,882 common shares at KRW 510,000 each for gross proceeds of KRW 2,999,820,000. The financing included participation from new investor GIANTSTEP Inc., which acquired a 6.26% equity stake. The company raised the funds through third-party allocation. The transaction involved issuance of common equity shares. Tripbitoz operates a video-based independent travel platform that lets users upload travel videos and enables viewers to make real-time bookings for hotels featured in the content. The company has been listed on HotelsCombined and Naver Hotel, reflecting its lodging price competitiveness and supply technology. Tripbitoz expects to reach KRW 10 billion in transaction volume in Q1 2020. In March it plans to launch a joint travel platform called TTBB with KB Kookmin Card, combining KB's 19.4 million customer database with Tripbitoz's travel technology. Investors cited the firm's IT resources and domestic and international hotel sales expertise as strengths and expect rapid growth driven by video-based content differentiation. The CEO has stated a mission to grow Tripbitoz into a representative Korean travel company within five years.

Total raised

$5M

Funding rounds

2

Latest round

Equity

Latest activity

Aug 2021