Although financial terms were not disclosed, Vietnamese online travel agency Vntrip.vn's CEO Le Dac Lam has confirmed that the company has raised funding from Switzerland’s IHAG Holding in a round that sees its valuation go up to $45 million.
This is the third funding round of Vntrip which raised $3 million in a series A funding from a small consortium of overseas investors led by former Alibaba veteran John Wu in 2016. The online travel agency also secured an undisclosed investment from Hendale Capital, a Hong Kong-based late-stage investment firm in 2017.
IHAG Holding Corp operates in the real estate sector in Switzerland. It invests in office buildings, commercial properties and hotels, resorts, vineyards, and integrated agricultural activities.
According to Vntrip, the third round would help the company to increase its resources and grab greater share in the online air ticket sector.