Locanation Secures Pre-Series A Funding with Multitechnology Expert to Disrupt OTA Market and Boost Thai Tourism
Locanation, a Thai online travel agency (OTA) that emerged during the COVID-19 pandemic as quarantine hotel booking platform supported by TAT, has closed its Pre-Series A funding round with Multitechnology Expert, the issuer of MVP Token and Thailand’s first-ever cryptocurrency for tourism. The two companies plan to revolutionize the tourism industry and offer accessible local travel for everyone. Locanation is using a membership-based travel club business model that provides discounts of up to 60% on selected packages, cashback of up to 5% on flights, hotels, and activities, and other partner benefits to subscribed members. Locanation expects to grow 200% this year, and certain that the platform will introduce a new tourism segment that will also boost overall growth of tourism in Thailand.
Mr. Pepe Arunanondchai, CEO and Founder of Locanation Co., Ltd., mentioned that https://locanation.com originated as Thailand’s certified quarantine hotels booking website under the support of Tourism Authority of Thailand (TAT). The new business model differs from other Online Travel Agencies (OTAs) with a system of membership-based OTA including virtual pre-travel that will introduce in the near future and a wide range of services covering more sectors of the tourism industry, whether booking flights, hotels, activities, as well as limo or even yachts. The company has created a unique selling point with its club membership system which grants exclusive privileges, including massive discounts of up to 60% on selected packages, cash back of up to 5% and special privileges from partners to all subscribed members. The company’s target is to gain over 100,000 accounts in 2023 and will offer in three languages – Thai, English and Chinese – for travelers to access the platform easily and conveniently.
Multitechnology Expert Co., Ltd. has invested a 15% equity in Locanation’s latest round, valuing the company at THB 100 million pre-money. This will enable Locanation to reach a broader variety of target segments with greater coverage. The company’s core target group is frequent travelers.
Multitechnology Expert is a business under the umbrella of M Vision Public Company Limited which focuses on developing new technology for tourism. It is the issuer of MVP coin, the first Utility Token for tourism in Thailand, which has similar attributes to an e-voucher which can be redeemed for a variety of tourism services.
Mr. Pepe said that after Thailand lifted quarantine requirement to enter the country, Locanation quickly adapt to fully compete in the OTA segment.
“Locanation is more than just a booking website – it is a community of travel-loving individuals who are passionate about exploring the world and experiencing all that it has to offer. We offer exclusive discounts and deals on flights, hotels, and activities, making it easy for our members to plan their dream vacations at an affordable price. But beyond that, we offer a sense of belonging and connection with like-minded individuals who share their love of travel. When members join our club, they are not just getting access to amazing deals. They are joining a community of people who are just as excited to see the world as they are,” said Mr. Pepe.