B2B travel company TravClan, has raised $4.7 million in its extended Pre-Series A funding round, led by Hashed Emergent Fund and angel investors.
TravClan’s prominent angel investors include Nick Talwar (CEO at Circle Up), Aayush Phumbra (former cofounder of Chegg), Travis Katz (former cofounder of Trip.com), Pritesh Gupta (former cofounder of Zipgo), and Vikram Chopra and Mehul Agrawal (cofounders of Cars24).
“Offline travel agents sell $500 billion plus worth of bookings every year. Covid has accelerated the need and demand from travel agents to digitise their operations. Our platform is enabling travel companies to rebuild their business faster and earn a better livelihood by generating more demand,” said Arun Bagaria, cofounder and CEO of TravClan.
“Our tech-first approach on solving challenges faced by travel businesses has allowed us to build a highly capital efficient business with a small team. The additional capital raised within 3 months of the previous round allows us to double down on investing in product and technology as we look to rapidly scale 10x over the next year,” he said.
TravClan has expanded to 8 cities in India, Dubai and Singapore and plans to launch operations in the US and South East over the next 12 months. Despite the impact of Covid-19, TravClan claims to have grown nearly 20x during the pandemic and claims to be on track to clock $100 million GMV run rate in this quarter with a positive contribution margin.
TravClan was co-founded by Arun Bagaria, Chirag Agrawal, Ashish Thapliyal in October 2018. The founders previously worked in key leadership roles at Oyo, Travel Triangle and Cars24 and understood the challenges faced by 300,000 small and medium travel agents in India.