TravClan raises $2.2M in pre-Series A round
TravClan, a B2B travel startup, announced that it has raised $2.2 million as part of its pre-Series A round led by South Korea and Singapore-based TheVentures, along with existing investor Leo Capital.
The round also saw participation from global and marquee angel investors also participated in the round.
Arun Bagaria, Co-founder and CEO, TravClan said that demands are increasing in the travel industry, which was the worst affected 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.”
Launched by Arun, Chirag Agrawal, and Ashish Thapliyal, the startup is using tech capabilities to restore travel businesses globally by establishing websites and selling products digitally.
The startup claims to have grown 10x since the COVID-19 outbreak and strives to empower travel entrepreneurs and businesses.
With over 70 percent of its business originating from international holidays before the pandemic, the Delhi-based travel tech startup enables travel agents to build their business online and maintain complete operations including bookings, collection, and payment of money, invoicing. During the pandemic, TravClan claims to have grown its customer base threefold organically.
Rajul Garg of Leo Capital said, “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,” vouching for a “tremendous growth opportunity in the global market to support travel agents and ventures”.
By 2025, the startup expects to have more than 10 million SMBs onboard and facilitate a Gross Merchandise Value (GMV) of more than $10 billion on the platform.
TravClan seems to have emerged as a strong player in the travel space despite the pandemic. I’m sure the company will continue to prosper in its journey ahead. My best wishes to the team of TravClan.Shishir Gupta, Founder and CEO, StartupLanes
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