Bangladeshi travel-tech startup Go Zayaan announced that it has raised US$2.6 million in a seed round investment led by Wavemaker Partners, one of Southeast Asia’s leading venture capital firms. This is Wavemaker’s second investment in Bangladesh. Previously, the venture capital firm invested in EdTech startup Shikho.
With the fresh capital, Go Zayaan aims to improve user experience, attract new talents and bring more travel services online. The company says it aims to completely revolutionize the travel industry in Bangladesh by developing the travel infrastructure and making travel booking easier for customers and the investment is going to help materialize the vision.
Previously, Go Zayaan had raised its pre-seed round from BRAC Osiris Impact Ventures, and OS Venture.
While the vertical has been terribly hit by COVID-19, travel is a fast-growing market in Bangladesh. A rising middle-class with disposable income is willing to spend and see the world.
However, less than 5% of bookings are being done online. Go Zayaan is actively bridging this wide gap by bringing accommodations and other travel services online and making those easily accessible to everyone.
Go Zayaan maintains the same modality for booking flights, hotels and even tours. One just simply has to go to its website, choose their preferred mode of travel, compare prices and book the most convenient path to their destination. This process requires no assistance and the users can go wherever they please, possibilities are endless.
Go Zayaan founder Ridwan Hafiz says: “The future is online; Bangladesh will be no different. We are here to build the future of travel.”
Throughout the pandemic, Go Zayaan focused on domestic tourism by partnering with local airlines, hundreds of hotels and tour operators that had no presence in the digital space. This has helped the company navigate through the challenges of the pandemic and build a foundation for sustainable growth.