Malaysian travel startup Touristly would have AirAsia CEO Tony Fernandes as part of their startup board during major company meetings after the latter's company had purchased a major stake of $2.6 million in the company, about 50 percent of its total value. The company is an application that helps build inspiring and unique-experience itineraries in Southeast Asia, India and China.
AirAsia, a company that flies travelers to these locations with an assortment of short and long-haul routes, is likely to use the app as part of an enhancement for its digital arm. The budget airline company is expected to expand its operations in the coming years and Touristly could likely play a key role in travel distribution.
TechCrunch said that the "mix" of Touristly and AirAsia would open doors for better profits such as ancillary services in the form of preferred seat reservation fees, in-flight meals and other services. Touristly could supplement these services adding them as suggestions for passengers to consider.
According to Tech in Asia, Touristly was founded in 2015 in Malaysia and intends to use the investment profit to its advantage for "working capital and development." After its stake purchase of the startup company's value, AirAsia has granted a $1.1 million convertible loan. According to the company's founders, it "positions them for greater success and further exit opportunities in the coming months."
Tony Fernandes is not new to seeing travel startup company's successes and potential. He has a startup incubator called Tune Labs wherein he invested by himself in Touristly's pre-series A round in 2016.
Competition against Touristly is quite tight in Asia's booming travel startup scene. Klook is another application with the same features as Touristly but focuses mainly in China. It would soon feature more from other Southeast Asian countries and aims to spread its operations beyond the borders of Asia in the near future.
This article is copyrighted by Travelers Today, the travel news leader
