European travel platform Omio raises $10 million and buys Rail Europe as it chases Asia’s tourism market
Those agencies currently sell mostly European train tickets, but Omio plans to fill them with Asian rail content. More broadly, Shaam thinks that travel is spreading to “new corridors.” That’s good for Omio, as lesser-known destinations are often served better by rail and bus connections instead of aviation. “There’s a lot of tourism that’s highly concentrated in the ‘Golden Triangle’: Tokyo, Osaka and Kyoto,” Shaam explained.
- ▪Those agencies currently sell mostly European train tickets, but Omio plans to fill them with Asian rail content.
- ▪More broadly, Shaam thinks that travel is spreading to “new corridors.” That’s good for Omio, as lesser-known destinations are often served better by rail and bus connections instead of aviation.
- ▪“There’s a lot of tourism that’s highly concentrated in the ‘Golden Triangle’: Tokyo, Osaka and Kyoto,” Shaam explained.
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Berlin-based travel platform Omio has agreed to acquire Rail Europe, a nearly century-old rail ticketing company, and separately landed a $10 million investment from Granite-Integral, an Asia-focused venture firm, as the startup expands into Asia.Recommended Video The Rail Europe deal, announced July 16, gives Omio access to “22,000 travel agencies that distribute European rail content, many of which are in Asia,” CEO Naren Shaam explained to Fortune. Those agencies currently sell mostly European train tickets, but Omio plans to fill them with Asian rail content. “The same Chinese customer that goes to Europe also goes to Japan, goes to Southeast Asia, goes to India, goes to Thailand,” he said.
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