Traveloka Nears $200 Million Funding After SPAC Talks

(Bloomberg) — Traveloka, Southeast Asia’s biggest online travel startup, is close to raising more than $200 million from investors after ending talks to go public via a merger with a blank-check company last year, according to people familiar with the matter.

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The Jakarta-based firm is pulling in fresh funds after its board decided not to pursue a listing via Bridgetown Holdings Ltd., a special purpose acquisition company backed by billionaires Richard Li and Peter Thiel. Traveloka, backed by investors including GIC Pte and Expedia Group Inc., is aiming for an initial public offering in the U.S. this year but the location and time could still change, the people said, asking not to be named as the matter is private.

A Traveloka representative declined to comment. The current fundraising isn’t finalized and could also change, the people said.

The valuation of the deal now under discussion couldn’t be learned. Traveloka had been valued at $3 billion,…