TravClan, a B2B travel technology firm, has received $4.7 million in a Pre-Series A investment headed by Hashed Emergent Fund and global marquee angel investors. According to a press release, TravClan’s angel investors include Nick Talwar (CEO of Circle Up), Aayush Phumbra (former Chegg cofounder), Travis Katz (former Trip.com cofounder), Pritesh Gupta (former Zipgo cofounder), and Vikram Chopra and Mehul Agrawal (cofounders of Cars24).
According to the release, the funds raised will allow the firm to double focus on its product and technology investments as it plans to scale tenfold over the next year.
TheVentures, a Korea and Singapore-based venture capital firm, and Leo Capital led the investment round, which included other global and marquee angel investors. The Delhi-based travel startup raised $2.2 million in a Pre-Series A round in July 2021 from TheVentures, a Korea and Singapore-based venture capital firm, and Leo Capital led the investment round, along with other global and marquee angel investors.
TravClan has raised $5.7 million in total funding since its founding in October 2018, according to TravClan cofounder Arun Bagaria. TravClan, founded by Arun Bagaria, Chirag Agrawal, and Ashish Thapliyal, helps travel agents and new-age travel entrepreneurs create and grow their businesses online by creating websites in under 30 seconds and selling products digitally.
The founders have held major leadership positions at Oyo, Travel Triangle, and Cars24 in the past.
TravClan claims to have expanded over twenty-fold during the pandemic years and is on track to reach $100 million in GMV this quarter with a positive contribution margin.
“Offline travel agents sell $500 Bn+ travel every year. Covid has accelerated the need and demand from travel agents to digitize their operations. Our platform is enabling travel companies to rebuild their business faster and earn a better livelihood by generating more demand. Our tech-first approach to solving challenges faced by travel businesses has allowed us to build a highly capital-efficient business with a small team,” Bagaria stated.
TravClan has grown its footprint in India, Dubai, and Singapore, and expects to open operations in the United States and Southeast Asia within the next 12 months, according to the company. The startup offers marketing tools that enable customers to generate more demand through social media and increase profits by booking flights, hotels, and vacations with suppliers all around the world at the best costs.
TravClan fills the gap between identifying dependable suppliers and implementing efficient payment and credit solutions. It claims to have helped 15,000 travel agencies expand their operations.
Its mission, according to the startup, is to empower SMBs in the travel sector around the world to expand their businesses and generate a GMV of over $10 billion by 2025.