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TravelTriangle raises INR 78 crore in a round led by Fundamentum

Wednesday, April 11, 2018, 15:00 Hrs  [IST]
HBI Staff|New Delhi

TravelTriangle has announced that it has raised INR 78 cr(USD 12M) Series C funding led by Fundamentum, the growth-capital fund for mid-stage technology companies in India backed by Nandan Nilekani and Sanjeev Aggarwal. Existing investors- SAIF Partners, Bessemer Venture Partners, RB investments and a clutch of angel investors also participated. This is the first investment by Fundamentum and Ashish Kumar, Partner, Fundamentum will join the TravelTriangleboard. Sanjeev Aggarwal and Nandan Nilekani have in the past invested in disruptive travel firms like MakeMyTrip, RedBus, and RailYatri. 

Announcing the investment in TravelTriangle, Nandan Nilekani said, “We met more than 50 companies before investing in TravelTriangle and we were very impressed by the team. We believe that this team is amongst the very best that we have seen in the Indian technology eco-system, by virtue of their learnability, customer-centricity, frugality, and hunger to build a very large business.They have the foresight and demonstrated operational experience to win this category. We are very excited about partnering with the team to build this business together.”  

According to experts, the Indian holiday market is a $10B opportunity, and is stated to become $30B in the next 5-6 years. This growth is largely driven by independent travellers wanting to travel overseas / domestic as a couple, family or individuals and this is the segment that TravelTriangle has focused on, to rapidly scale and attain market leadership. This segment requires a far more consultative sales process and building technology that integrates multiple activities, tickets and supplies in the form of one itinerary. Towards that end TravelTriangle offers a SaaS-based CRM platform for travel agents to manage and analyse customer interactions and draw insights from there to improve customer retention and drive sales growth. 

Sankalp Agarwal, Co-Founder & CEO, TravelTriangle said,“The vision of the company is to encompass all the components of online holiday eco-system and be the one-stop solution for the traveler. We are continually growing and have been the fastest growing holiday player with the highest NPS (Net Promoter Score). To win the confidence of pedigreed entrepreneur investors like Nandan and Sanjeev is a great validation of our journey thus far. Our success up till now has been the effort of our super motivated and diligent team.”

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