Go Zayaan receives USD 2.5m foreign investment

Dhaka: Online travel agency Go Zayaan has recently received USD 2.5 million, about BDT 22 crore, foreign investment led by Wavemaker Partners, one of the largest technology companies in Southeast Asia, while the other investors are 1982 Ventures, Iterative and Century Oak Capital.

The fresh capital will be used to improve user experience, attract new talents, expand its customer base and travel service network.

Founded in 2017 by Ridwan Hafiz, Go Zayaan works with airlines, inter-city buses, hotels and tour operators to bring more travel services online.

Speaking on the occasion, Ridwan Hafiz, Founder, Go Zayaan, said, "Following the information technology revolution in the country, people are getting familiar with using the internet. We are working to upgrade the country's tourism sector by using technology while making Bangladesh a popular tourist destination in the world."

Bangladesh's tourism sector is growing rapidly. Even though, only 5 per cent of the business operation is done online, travel agencies are catching on fast with digital technology adoption in recent years.

Go Zayaan is working to make travel more comfortable by bringing all the hotel and travel-related facilities online. The OTA aims to bridge the gap between offline and online travel services by creating a holistic travel booking infrastructure, including financing, transport modes and lodging options, and integrations with the country’s mobile financial services industry.

During the pandemic, when global tourism was at a standstill, Go Zayaan focused on domestic tourism, and achieved a five times growth rate in the past 12 months.

The OTA also claimed to have clocked over 500,000 monthly active users and 40 per cent returning customers to date.