TravelTriangle raises $10 million in fresh round of funding

TravelTriangle raises $10 million in fresh round of funding

TravelTriangle, an online marketplace for discovering travel agents, has raised $10 million, or about Rs 67 crore) in a fresh round of funding led by Singapore-based venture capital firm RB Investments.

SAIF Partners and Bessemer Venture Partners, existing investors in the Noida-based Holiday Triangle Travel that owns and operates TravelTriangle, also participated in the new round, even as risk capital continues to back players in the country’s online travel sector. Last month, ETreported that Chinese investor Fosun International was about to close its first venture investment in the country in online travel search marketplace Ixigo.

There were several deals in the space in 2016 including the sector’s largest merger so far between Nasdaq-listed MakeMyTrip and Ibibo Group which was backed by Tencent and Naspers. Yatra Onlinealso made its public market debut through a reverse merger. RB Investments has backed a string of Indian consumer-focused startups, including online jewellery retailer Bluestone, online lingerie retailer Pretty Secrets, and online food delivery venture Swiggy.

“We see TravelTriangle marketplace as the key beneficiary of fast growing outbound holiday market and increasing fragmentation of offline travel agents,” an RB Investments spokesperson said. “Increasing consumer expectations and needs make travel agents and related industry players indispensable which results into great opportunity for TravelTriangle.”

TravelTriangle has over 650 travel agents on its platform, and claims to have monthly visits of about two million. It recorded gross transactions of Rs 200 crore in May last year. The company plans to use the proceeds from the latest funding round to further build on its offerings to consumers, including, providing price estimations and multiple payment options, and improve upon its big data algorithms for travel agents on the platform.

“There is a very large list of features requested by both travellers and suppliers, and we will be working on them, to provide seamless experiences to both sets,” said Agarwal, chief executive of TravelTriangle.

“We have grown faster than OTAs in the leisure segment and now fast approaching their scale,” he told ET, but declined to share numbers for 2016-17. He said the firm expects to be profitable across its geographies over the next 18 months. It has till date raised close to $20 million across three rounds. In January last year, ET had reported that the company was in the market to raise about $30 million in funding, and had appointed merchant bank Investec to scout for investors. However, it seems to have scaled down its ambitions, given the tough fund-raising environment in the country.
“We have grown very strongly organically… We didn’t need to raise that amount of money and dilute ourselves, and it’s better to raise a lesser sum, and achieve our targets,” Agarwal said.

About author

TnH Global
TnH Global 4048 posts

Our platform is the most comprehensive, current and accurate content destination for tourism that also offers the opportunity to connect and network with quality buyers and sellers.

Name: TnH Global              Email:

You might also like


Althoff Hotel Villa Belrose In Saint-Tropez joins Small Luxury Hotels Of The World™

Small Luxury Hotels of the World™ (SLH) has welcomed the five-star Althoff Hotel Villa Belrose in the Cote D’Azur into its collection of small, exclusive, independently-owned hotels around the world.


India’s first AC local train flagged off in Mumbai today

India’s first air-conditioned local, stretching between Mumbai’s Churchgate and Virar station, ran its maiden journey at 10:32 am on Monday from Borivali station to Churchgate in the southern part of


Soak up the Sun on Atlantis, The Palm’s blissful beaches

Dubai offers travelers that perfect holiday destination with beautiful blue skies and warm weather, and while holidaying in Dubai, there is no better place to spend day after beautiful day


Kuwait’s Jazeera Airways connects to India with Daily flights to Hyderabad

Jazeera Airways operating regionally and internationally, inaugurated today its daily flights to Hyderabad.  Upon arrival in India, Jazeera Airways held a joint press conference with GMR Hyderabad International Airport Ltd.


‘Enable Travel’ powered by Cox & Kings to make travel barrier-free for People with Disabilities

~ India gets its First Accessible Holiday Specialist ~ In a move to make tourism more inclusive and accessible, Enable Travel – India’s first Accessible Holiday initiative was launched to


Cinnamon Life presents Mamma Mia

The highly acclaimed London’s West End stage musical group to perform in Colombo, Sri Lanka Theatre lovers are in for a treat as Cinnamon Life presents one of the world’s


One&Only Nyungwe house to open in Rwada in October

One&Only’s Ultra-luxury portfolio expands with Nature Resorts in Africa The captivating One&Only Nyungwe House resort, on the edge of the vast and ancient Nyungwe rainforest in the dramatic mountainous landscapes

Top Stories

Radisson Enters into Strategic Tie-Up with EazyDiner

Radisson Hotel Group South Asia today announced its partnership with EazyDiner – India’s leading table reservation and food discovery platform. The partnership is a significant step to strengthen the Group’s


PM Modi to oversee Kumbh Mela preparations which will be held in Allahabad in 2019

Prime Minister’s office to oversee the preparations for the 2019 Kumbh Mela which will be held in Allahabad from 14th January onward. It is reported that the Uttar Pradesh state government will also do


Kenya Tourism Board felicitates film maker Imtiaz Ali with IIFTC Tourism Impact Awards

In a recently concluded India International Film Tourism Conclave (IIFTC), Kenya Tourism Board, partner country of the convention felicitated ace director Imtiaz Ali with the first ever IIFTC Tourism Impact


Thomas Cook India receives top honour at The French Ambassador’s Travel Awards

Conferred with the Diamond Award for highest number of visa issuances in India for the third time in a row Thomas Cook (India) Ltd., India’s leading integrated travel and travel related


Trafalgar guarantees a winning year ahead for agents with 100% of Europe & Britain plus all Asia Departures confirmed as Definite for 2017

Award-winning operator Trafalgar has reaffirmed its ongoing commitment to making it easier than ever for agents to book the brand with confidence, by revealing that an unprecedented 100% of its


No Comments Yet!

You can be first to comment this post!