[Funding alert] B2B travel startup TravClan raises $2.2M in pre-Series A round
B2B travel startupraised $2.2 million as part of its pre-Series A round. The investment round was led by South Korea and Singapore based venture capital firm TheVentures, along with existing investor Leo Capital. Global and marquee angel investors also participated in the round.
Arun Bagaria, Co-founder and CEO, TravClan said that demands are picking up in the travel industry, which was the worst hit by the pandemic.
“COVID-19 has severely affected the livelihood of more than 100 million people across the world, who lost their jobs due to the pandemic. However, the urge to travel is innate to every human being and we are seeing strong consumer demand as vaccinations pick up.”
Started by Arun, Chirag Agrawal, and Ashish Thapliyal who have earlier worked in key leadership roles at startups like Oyo, Travel Triangle, and Cars24, the startup is leveraging tech capabilities to revive travel businesses globally by setting up websites and sell products digitally.
Claiming to have grown 10x since the COVID-19 outbreak, Arun ensured the startup’s commitment to empower travel entrepreneurs and businesses.
With more than 70 percent of its business coming from international holidays before the pandemic, the Delhi-based travel tech startup helps travel agents build their business online and manage entire operations including bookings, collection and payment of money, invoicing. Amidst the pandemic, it claims to have tripled the customer base organically.
Rajul Garg of Leo Capital, which led the startup’s seed funding in August 2019, said the venture capital firm partnered with TravClan when business was growing rapidly pre-pandemic.
“The resilience, conviction, and ability to grow displayed by the founders at a time when other companies struggled to survive, speaks volumes about the quality of the founding team,” he said, vouching for a “tremendous growth opportunity in the global market to support travel agents and ventures".
By 2025, the startup hopes to bring over 10 million SMBs onboard and enable a Gross Merchandise Value (GMV) of over $10 billion on the platform.
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