Abel Zhao, co-founder & CEO of FreeD Group, a technologies innovator that specializes in proprietary organization software solutions, has acquired 75-12 months-aged Connexus Vacation from the father or mother enterprise of Cathay Pacific, Swire Group. Money aspects of the acquisition have been not disclosed.
Launched in 2015, FreeD Team is a journey technological know-how startup featuring proprietary SaaS options for gross sales and advertising. The corporation uses AI [artificial intelligence], major details and equipment mastering systems to deliver conclusion-to-finish electronic solutions connecting platforms, brands and assistance providers.
“We see large growth potential for Connexus simply because of its lengthy heritage of great providers and the synergies that will be generated amongst Connexus and FreedD,” said Zhao in the push launch. “The constructive outcomes we envisage incorporate company possibilities spanning journey companies, e-commerce, internet marketing solutions and brand loyalty plans, all of which will be underpinned by a extensive range of digitalized expert services and alternatives. Ultimately, we anticipate Connexus Vacation to adhere to in the footsteps of FreeD Team and completely transform into a world-wide brand.”
Headquartered in Hong Kong, FreeD has over 250 pros from 22 different regions across the world and operates in far more than 10 markets globally. FreeD consumers and companions include things like key names these kinds of as Google, BMW, FIFA Entire world Cup, Samsung, China Mobile and LG.
The startup raised a $15 million Collection B in June 2022, led by Daiwa ACA APAC Progress Fund and ACA Companions Pte. Ltd. Buyers also provided Hong Kong house developer Chinachem Team, Hong Kong Science & Technological innovation Parks’ Corporate Venture Cash Fund, Radiant Tech Ventures and startup accelerator SOSV’s Select Fund.
The acquisition of Connexus Travel follows the startup’s approach for focusing on growth in Seoul and Shanghai. Established in 1948, Connexus Journey was to 1st travel management corporation (TMC) to be registered in Hong Kong, featuring solutions from resort and travel deals to ticket bookings and visa programs for each domestic and international tourists. The firm has offices in Beijing and Shanghai and acquired a neighborhood licence in Beijing in 2009. Right after 70 years of operation, Connexus Travel has turn out to be a reliable identify for company, leisure and MICE journey.
“We will leverage our posture as a market leader and the improvement strategies with FreeD to increase our products and services not only in Hong Kong and China, but also to the markets the place FreeD now operates,” stated Eric Lau, standard manager of Connexus Journey.
The startup also designs to extend its digital alternatives to arrive at the Americas, Europe and the Middle East.