PROJECT

Projects

Summary of Investment Information

Project Number

38400

Company Name

OWAY PTE. LTD.

Date SPI Disclosed

May 13, 2016

Country

Myanmar

Region

East Asia and the Pacific

Projected Board Date

Jun 15, 2016

Environmental Category

C - No Impact

Status

Active

Last Updated Date

May 10, 2017

Department

TMT, Venture Capital & Funds

Industry

Tourism, Retail and Property

Previous Events

Approved : Sep 14, 2016
Signed : Mar 24, 2017
Invested : May 8, 2017

Sector

Travel Agency

Project Description

Oway Group (or the “Company”) is the leading online travel booking service provider in Myanmar. The Company operates a B2B model where businesses book their travel through the platform, as well as a B2C booking website for private travelers. OwayTravel offers a wide range of booking services, including flight (domestic / regional) and bus ticketing, hotel and tour package booking, car rentals, and guide hiring, with ticketing making up most of the volume today. In March 2016, Oway Group launched its second major business segment, OwayRide, an on-demand ride-hailing service.

The Company is seeking to raise up to US$10 million of equity and debt capital to fund operations and working capital. IFC is considering an equity investment of up to US$3 million in Oway Group.

Associated Advisory Engagement

N/A

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation