SINGAPORE - Traveloka, Southeast Asia’s largest online travel startup, plans to launch financial services in Thailand and Vietnam as it eyes a U.S. listing through a blank-cheque company, its president said.
The company’s president, Caesar Indra, told Reuters in an interview that Traveloka’s Vietnam business had surpassed pre-COVID-19 levels, is nearly back to normal levels in Thailand, and is at half of pre-COVID level in Indonesia. “The worst has happened and now we’re well prepared for 2021. Domestic travel is driving recovery,” he said.
“We recently formed a joint venture with one of the largest banks in Thailand to collaborate in the fintech space,” Indra said. Traveloka, which has smaller local rivals, is also talking to potential partners in Vietnam, but Indra declined to name the parties. Indra said the business potential was huge in Indonesia, Southeast Asia’s largest economy, where only 6% of the population of 270 million has credit cards.
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