TravelTriangle ramps up agent marketplace with $10 million funding

India-based travel agent marketplace TravelTriangle has brought in another sizeable funding round – $10 million – to help accelerate its expansion as a company.

The company has wooed RB Investments to back the company with the Series B round, with participation from SAIF Patners and Bessemer Ventures returning for support.

The latest round follows a $8 million deal in April 2015 via Bessemer and a Series A of $1.7 million in July 2014 from SAIF.

TravelTriangle says the funds will be used to expand its network of destinations in India and elsewhere around thw world, as well as increasing its headcount from the current 400 people in New Delhi.

It claims to be growing faster than leisure online travel agencies in India and “now fast approaching their scale”.

More than 650 travel agents are listed on the system as experts to create packages for travellers.

RB Investments has previously backed Fab Hotels and V Resorts, both India-based operations.

RB’s Harshavardhan Bothra says:

“The opportunity of serving the large do-it-for-me market in holidays is under appreciated. What sets them apart are their operators; diligent, persistent and insightful.

“We see TravelTriangle marketplace as the key beneficiary of fast growing outbound holiday market and increasing fragmentation of offline travel agents.

“Increasing consumers expectations and needs make travel agents and related industry players indispensable which results into great opportunity for TravelTriangle.”

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