Global B2B travel platform, TravClan, has announced it has raised $4.7 million in its extended pre-Series A funding round, having previously raised $2.2 million in July 2021 from TheVentures and Leo Capital. The new investment was led by Hashed Emergent Fund and global marquee angel investors. TravClan’s prominent angel investors include Nick Talwar (CEO at Circle Up), Aayush Phumbra (Ex co-founder of Chegg), Travis Katz (Ex co-founder of Trip.com), Pritesh Gupta (Ex co-founder of Zipgo), and Vikram Chopra and Mehul Agrawal (Co-founders of Cars24).
Speaking about this, Arun Bagaria, Co-Founder and CEO, TravClan, said, “Offline travel agents sell $500 billion+ 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. The additional capital raised within three 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.”
TravClan has expanded its physical presence in 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 devastating impact of COVID on the travel sector, TravClan has grown nearly 20x during the pandemic and is 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.
Tak Lee, Hashed Emergent Fund, said, “Payments and trust in the travel ecosystem is a large problem that is being addressed by TravClan. We are excited about the team’s vision to build payments network potentially using blockchain thus saving millions of dollars in fees and building trust in the ecosystem.”
Hashed Emergent is a new fund focused on emerging economies deployed which is one of the largest web3 funds in the world and has invested in marquee projects such as Terra Money, Axie Infinity, Cosmos, DYDX, The Sandbox and more.
What does TravClan do?
TravClan’s solutions enable travel entrepreneurs to grow their travel business by setting up their online websites in 30 seconds and sell products digitally, it said in a statement.
The company also provides marketing tools that allow its users to generate more demand from social media, and earn more profit by booking flights, hotels, holidays with suppliers across the world at best B2B prices on its platform. TravClan’s platform bridges the gap of finding reliable on-ground suppliers and cost-effective payments and credit solutions, the statement added.
TravClan’s vision is to empower SMBs in travel across the world to grow their business and build a trusted travel ecosystem and enable GMV of over $10 billion by 2025.