Noida-based online travel marketplace TravelTriangle has raised Series C funding of Rs 78 crore ($12 million) led by Fundamentum, the growth-capital fund for mid-stage technology companies in India backed by Nandan Nilekani and Sanjeev Aggarwal, along with company’s existing investors like SAIF Partners, Bessemer Venture Partners, RB investments and a clutch of angel investors. As part of the deal, Ashish Kumar, Partner at Fundamentum will join the TravelTriangle board.
The company will use the funds to build its technology, expansion, and brand building.
Founded in 2011 by Sankalp Agarwal, Sanchit Garg and Prabhat Gupta, TravelTriangle is a marketplace for travel agents who can create online customized tour packages for travellers. The website also enables customers to connect with travel agents anywhere, get tour quotations, customize the trip or packages according to their preferences and book the plan directly. The company claims to register a monthly traffic of 2.5 million and has close to 700 active travel agents operating through the platform.
TravelTriangle’s previous funding
In February last year, the company raised $10 million in a series B round of funding from RB Investments, and participation from existing investors SAIF Partners and Bessemer Venture Partners. TravelTriangle had previously raised $8 million funding led by Bessemer Venture Partners, with participation from SAIF Partners in April 2015, after having raised Rs 10 crore (~$1.7M) funding from SAIF Partners in July 2014.
The company largely competes with the likes of MakeMyTrip, Goibibo, Yatra, Thomascook, Cleartrip etc.