Wego Raises $17 Million In Series C
Wego is a travel search website that has raised $17 million in Series C funding. This round of funding was led by Crescent Point, a venture firm that focuses on investments in Asia. Wego has raised a total of around $36 million so far. Wego generates around one third of their revenue from advertising and the other 70% is generated by referrals.
Wego’s search engine was designed to conduct metasearches across 600 airline carriers and 400,000 hotels. Those companies are charged referral fees if travelers book through them. Wego recently partnered with a home rental marketplace company called Travelmob. Travelmob aggregates listings for rental in the same style as Airbnb.
Wego was founded by Ross Veitch and Craig Hewett. The two are Australians that run the company from Singapore. Wego also has offices in Australia, Indonesia, Dubai, and India.
Wego plans on using the funding for hiring additional talent for their Singapore and Dubai offices. There are currently around 50 people located at their headquarters in Singapore. The company will be hiring another 20 people for their marketing and data scientist staff. Wego has a total of around 100 staff members.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry