Singapore

Tin Men Capital adds $9 million to Singaporean travel tech firm GlobalTix


Singapore-based GlobalTix, a provider of e-ticket distribution solutions for the travel and tourism industry, has secured a S$12.5 million (US$9.13 million) growth investment from existing investor Tin Men Capital.

Founded by brothers Chan Chee Chong and Chan Chee Kong, GlobalTix operates an e-ticket distribution platform for offline and online travel agencies. With the platform, attractions and activities providers across Asia are able to manage their inventory through a global network of partners.

The cloud-based e-ticketing platform provides partners and attractions with many features, such as real-time sales, pricing and distribution, product bundling (such as city passes) and data analysis.

The company claims to currently process over $75 million worth of transactions annually on its platform. It works with industry giants like Universal Studios Singapore, Singapore Zoo, Kidzania Singapore and Thailand, Waterbom Bali, Singapore Airlines and Viator and Trip Advisor.

Also read: VCs struggle to influence B2C startup success outside of capital, advice: Tin Men Capital’s Murli Ravi

“While the GlobalTix platform already covers attractions inventory across Asia, we realized that by learning from the success of Singapore’s tour and attractions provider coverage and repeating this model by investing in our direct presence in the Asia region, we could Asia is a major inbound travel market. So, now is a good time to bring in growth capital to accelerate expansion,” said Chan Chee Chong, CEO of GlobalTix.

GlobalTix currently has offices in Singapore, Indonesia, Thailand and the Philippines.

Tin Men was founded in March this year by Ravi (former Head of South Asia Investments, Asia Pacific, JAFCO), Jeremy Tan (ex-Morgan Stanley and Puma Energy) and Benjamin Tan (experienced serial entrepreneur and angel investor).

Tin Men invests in emerging industrial technology and automation opportunities in Southeast Asia, covering areas such as smart cities, security, manufacturing, agriculture, transportation and supply chain, retail enablement, travel and tourism, and business productivity.

In August of this year, the fund reached $100 million, announcing its first financing and investing in two startups, Overdrive IOT and GlobalTix.

The post Tin Men Capital has injected an additional $9 million into Singaporean travel tech firm GlobalTix first appeared on e27.



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