SoftBank’s Vision Fund has invested $1.7 billion in Yanolja, the South Korean travel and leisure firm said on Thursday, as it seeks to build on rapid pandemic-induced growth in Southeast Asia, India and Africa.
Yanolja, which provides cloud-based booking and other systems for hotels and travel companies, says demand for its systems has jumped as the spread of COVID-19 put companies under intense pressure to introduce contactless services and cut costs. That in turn has made Yanolja a rare beast in the travel industry over the past year – a company which has seen earnings spike.
“Powered by AI, we believe Yanolja is a leader in transforming the travel and leisure industry in South Korea,” said Greg Moon, Managing Partner at SoftBank Investment Advisers.
Read more/Source: Reuters
