LokaLocal to receive RM300,000 from Cradle Fund

4 December 2017 – Loka Travel Sdn Bhd, which operates via LokaLocal, is set to receive a funding of RM300,000 funding under the Cradle Investment Programme 300 (CIP300).

LokaLocal founder, Chin Yoon Khen, has announced that the funding will focus on three key areas to accelerate the growth of the online marketplace and travel social platform.

“Following our success in the MIST competition at the Mekong Tourism Forum, and our participation in K-Startup Grand Challenge, we are looking to broaden our experiences and exposure in not one, but three countries,” Yoon Khen said.

Apart from the financial assistance of RM300,000, the pre-seed programme by Cradle Fund Sdn Bhd comes with value added support such as an enhanced coaching and mentoring programme, network opportunities with potential investors and partners, internal training programme, as well as participation in business and networking events under Cradle.

LokaLocal plans to allocate the CIP300 funding into three main segments, which includes:

  • Listing expansion in Malaysia, Korea and Laos
  • Offline and online marketing campaigns to increase awareness and traction
  • B2C and B2B marketing by integrating all-in-one travel management integration / SaaS for local tour providers & operators, as well as the launch of LokaLocal’s mobile application

According to LokaLocal, the mobile application will comprise a travel directory, e-guide and booking tool, to enhance and smoothen their user experience.

The mobile app will also be a prelude to what lies ahead for LokaLocal.

“Our goal is to enable every global traveler to enjoy authentic local experiences at affordable prices anywhere. We are here to make each traveler’s trip special, ” said Yoon Khen.

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