Bangladeshi travel tech startup Go Zayaan has recently raised $2.6 million in a seed round. The investment is led by Wavemaker Partners, one of the largest venture capital firms in Southeast Asia. 1982 Ventures, Iterative, and Century Oak Capital also invested in this round. The investment is expected to help the company in achieving its goal to improve the travel infrastructure and make it easier for clients to schedule trips. According to news reports, the company announced that this new investment will be used for improving user experience, acquiring new talents, and for bringing more people and travel services online.
BRAC Osiris Impact Ventures and OS Venture have previously invested in Go Zayaan’s pre-seed round. The company has more than 500,000 active monthly users, of which 40% are repeat customers. It is the first local online-based travel agency that provides full flight coverage and it is connected to 400 plus hotels.
Despite the significant impact that the pandemic has had on the tourism industry, overall travel is a rapidly rising sector in Bangladesh. However, according to the company, less than 5% of total bookings are being done online. The company press release mentions that Go Zayaan is actively bridging this gap by making online travel services easily available to everyone. According to news reports, Go Zayaan founder Ridwan Hafiz said, “The future is online and Bangladesh will be no different. We are here to build the future of travel.”
Wavemaker Partners has previously invested in the Bangladeshi EdTech startup Shikho and the recent funding is the venture capital firm’s second investment in the country.