Wego, the travel deal search engine has announced that it has closed a $17 million funding round from private equity firms Crescent Point, Victoria Capital and existing investors Tiger Global. The round was led by Crescent Point. The capital influx is aimed towards growing the company across different emerging markets, especially APAC and Middle East.
Wego has been one of the first companies which specialized in travel related search. The Singapore based company is now active in 52 markets and supports 30 languages globally and has amassed a good user base in countries like India, Indonesia, South East Asia and Middle East, according to information released by the company. The company feels that it can see further growth in these regions. Wego also claims that it generates $10 million per day in ‘potential bookings’ for its partners. This figure is thus not confirmed can very and does not indicate confirmed sales.
The capital will be deployed in improving the product and bringing in some innovation in addition to growing the team behind Wego.
Wego has partnered with Indian companies like Sulekha and HolidayIQ before and has had innovative ways of making travel simpler for users who are searching for the perfect getaway.