A still from the movie Queen. Photo credit: Santabanta.
Holiday marketplace TravelTriangle, which lets users book, plan, and curate vacations, just raised US$10 million in series B funding from Singapore’s RB Investments.
The Indian startup will put the money towards hiring more employees and adding more services. TravelTriangle aims to serve more than 100 holiday destinations across the world.
Started by IIT grads Sankalp Agarwal, Sanchit Garg, and Prabhat Gupta, the online marketplace connects a globetrotter to multiple local travel agents. It not only takes care of tickets and bookings, but also customizes holiday packages depending on client needs.
“There are 65 million passport holders in India who are potential travelers. In 2016, only 18 million were traveling outside the country, indicating that the outbound leisure holiday market is in its infancy in India. The outbound leisure market is estimated to be about $10 billion which conservatively set to double by 2020 and will continue to experience secular growth for some time to come,” said Raghav Bahl of Bessemer Venture Partners, which is also an investor.
Launched in October 2011, TravelTriangle gets about 2 million visitors on its website every month and serves travelers from more than 65 countries, the startup claims.
Based in Noida and with a team of about 400 people, it raised US$1.7 million pre-series A in July 2014, followed by a series A round of US$8 million in April 2015.
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