With MakeMyTrip-Goibibo dominating the Online Travel Agency (OTA) space, Nasdaq-listed online travel portal Yatra has closed a debt funding of Rs 100 crore ($15.4 million) from Innoven Capital. The funds will be utilized to meet the working capital required by Yatra to grow further and expand its offerings across geographies. “After having raised US$92 million through our Nasdaq listing in December 2016, this debt funding provides us additional capital for our growth needs,” said Alok Vaish, Yatra’s Group CFO, in a statement. This round is InnoVen Capital India‘s second round of financing in the company, as InnoVen had previously invested $4 million venture debt facility to Yatra in 2013. Last year, Yatra had become second OTA to get listed after MakeMyTrip, and it trades under the name YTRA, following a reverse-merger with a listed company, called “Terrapin 3 Acquisition Corporation”. Yatra’s Financial highlights Yatra posted overall YoY revenue growth of 15.3% YoY for the quarter ended June 2017 (Q1-FY18). Its Hotels and Packages business increased by 38.8% YoY to Rs 43.84 crore for the period, from Rs 31.58 crore in the same period last year. Mobile traffic incoming to Yatra’s website grew significantly during Q1FY18 and during this quarter, 73% of all traffic came from mobile devices. The air/flight ticket booking business generated revenues of Rs 106.32 crore, up 25.6% YoY from Rs 84.6 crore revenue in the same quarter last year. The company claims that organic mobile app downloads crossed the 10 million mark in Q1FY18; during the quarter, it…
