Travel Triangle, an online travel marketplace that offers a common platform for travellers and travel agents, has received $3 million venture debt funding from InnoVen Capital. This marks InnoVen’s second investment in TravelTriangle, after it invested $1.25 million in 2015.
Sankalp Agarwal, co-founder and CEO of the company said that the funding will be used to strengthen its operations. He said:
The funding acquired from InnoVen and our other esteemed investors will be directed to meet the pressing expansionary demands for the organisation, and strengthening our outbound based operations.
Commenting on the investment, Punit Shah, Director, InnoVen Capital India, said,
Travel Triangle has showcased growth coupled with healthy and positive unit economics. It has demonstrated a strong ‘say-do’ ratio since our first investment in 2015 and is well on its way of encompassing all the components of holiday ecosystem through its highly innovative and technology-focused product.
The company was founded in 2011 by Sankalp Agarwal, Sanchit Garg, and Prabhat Gupta. TravelTriangle is an online travel marketplace that aims to bring travellers and travel agents on a common platform. The company claims to have nearly 700 travel agents operating on the platform covering over 65 destinations.
It offers a SaaS-based CRM platform for travel agents to manage and analyse customer interactions, improve customer retention and drive sales growth.
So far, the Gurugram-based company has raised over $32 million funding from Fundamentum, SAIF Partners, Bessemer Venture Partners and RB investments, and a few other investors.
