TravelTriangle, one of India’s leading holiday marketplaces, has recently raised US$10 million in series B funding from RB Investments. One of the most successful innovators in the online travel space, TravelTriangle’s successful funding round saw participation from existing investors SAIF Partners and Silicon Valley venture fund Bessemer Venture Partners. TravelTriangle has been able to generate funds for three years straight.
Within a year of inception, TravelTriangle had raised an angel funding of INR 60 lakh from a group of individual investors. It then raised a pre-Series A investment of US$1.7 million from SAIF Partners in July 2014 and closed series A financing of US$8 million from Bessemer Venture in April 2015.
Sankalp Agarwal, Co-Founder and CEO, TravelTriangle said, “We have grown faster than OTAs in the leisure segment and now fast approaching their scale. With the association with RB Investments in this round we will achieve our vision faster. Our success up till now has been the effort of our super motivated team. As we charter the next phase of growth, my aim is to bring together the best in the industry and make TravelTriangle an employer of choice.”
Talking about TravelTriangle, Harshavardhan Bothra from RB Investments said, “The opportunity of serving the large do-it-for-me market in holidays is under appreciated. What sets them apart are their operators; diligent, persistent and insightful. We see TravelTriangle marketplace as the key beneficiary of fast growing outbound holiday market & increasing fragmentation of offline travel agents. Increasing consumers expectations and needs make travel agents and related industry players indispensable which results into great opportunity for TravelTriangle. Upon comparing global companies to determine ideal cost structure and margin profile for market dominance in any country, our conclusion is that TravelTriangle is in a sweet spot.”
Mayank Khanduja from Saif Partners said “Packages & Holidays is a complex tech product compared to 1-click booking solutions. Consumers need handholding during planning for weeks. Vertical solutions have, hence, scaled very well geographies like China on the back of technology. Similarly, Travel triangle has effectively used technology to provide a great experience to customers and higher business to its partners. The TT marketplace thus today enjoys strong unit economics and faster growth than competitors, making it a clear leader in the holiday space in India.”
