TravelTriangle raises funding of $10million

TravelTriangle has recently raised $10 million in series B funding from RB Investments. 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.” This funding round saw participation from existing investors SAIF Partners and Silicon Valley venture fund Bessemer Venture Partners. Within a year of inception, TravelTriangle had raised an angel funding of Rs 60 lakh from a group of individual investors. It then raised a pre-Series A investment of $1.7 million from SAIF Partners in July 2014 and closed series A financing of $8 million from Bessemer Venture in April 2015.
Harshavardhan Bothra from RB Investments, said, “What sets them apart are their operators. We see TravelTriangle marketplace as the key beneficiary of fast-growing outbound holiday market and 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.”