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MyRealTrip Secures $56.6M, Aims to Strengthen Super-app Strategy.

Source: MyRealTrip Google Play

Seoul, South Korea - MyRealTrip has secured KRW 75.6 billion (US$56.6 million) in Series F funding.

The funding was led by BRV Capital, Korelya Capital, Vanderbilt University's endowment fund, and Partech Partners

Existing investors, including SV Investment, Samsung Securities, IMM Investment, Altos Ventures, and Smilegate Investment, participated in the round.

The post-money valuation was not disclosed to the public. 

However, according to the TechCrunch article, the post-money valuation has grown three times compared to its Series D funding in 2020.

With this funding, MyRealTrip plans to strengthen its existing super-app strategy and focus on new businesses such as package services and business-to-business (B2B) sales.

The company will reach monthly breakeven in summer 2023. Gross merchandise value 2023 will be approximately KRW 1 trillion (USD 750 million).

Since the COVID-19 pandemic, travel has returned to normal. 

The country's main airport, Incheon International Airport, recorded 5.6 million passengers in December, up 62.3% year-on-year.

South Korea's tourism market is expected to grow at a CAGR of 8.10% between 2023 and 2028 to reach $77.7 million, according to Future Market Insights.