Eatigo receives investment worth USD 25 Mn from TripAdvisor

Restaurant reservation platform in Southeast Asia Eatigo on Monday announced receiving of a follow-on investment from its existing strategic investor, TripAdvisor.

With an investment worth USD 25 million, the pre series C investment for Eatigo comes as TripAdvisor's restaurants business unit and its subsidiary, TheFork, look to help expand Eatigo's presence and services across the Asia Pacific region.

On the heels of a successful entry into Hong Kong, the Philippines, Malaysia and India in 2017, Eatigo will use the funds to launch in several more markets and extend its product offering. Over the past year, the company has grown rapidly to claim a leading position in every market it operates in.

"Eatigo is excited to continue its strong relationship and collaboration with TripAdvisor. These new funds will be integral in allowing Eatigo to consolidate and extend the reach of our leadership and expertise in helping customers reserve the perfect table," said Eatigo's CEO and co-founder, Michael Cluzel.

Eatigo operates in 6 countries, and has over 4 million users. It offers the largest inventory of discounted restaurants offers in the region with over 4,000 restaurant partners, from upscale hotels and fine-dining establishments to popular restaurant chains and neighborhood budget eateries.

"As we look to further our presence in the Asia Pacific region, we believe our latest strategic investment in Eatigo will continue to support a great business and strong management team," said Bertrand Jelensperger, senior vice president of TripAdvisor Restaurants and founder of TheFork.

"TripAdvisor's continued partnership with Eatigo will help us both better serve millions of diners and restaurant owners who are increasingly turning to online channels," added Jelensperger.