TravelTriangle raises $10 mn in fresh funding round

Online travel firm TravelTriangle has raised USD 10 million (over Rs 67 crore) in series B funding led by Singapore-based VC firm RB Investments.

The company's existing investors SAIF Partners and Silicon Valley venture fund Bessemer Venture Partners also participated in the funding round, TravelTriangle said in a statement.

Commenting on the development, TravelTriangle Co-Founder and CEO Sankalp Agarwal said: "We have grown faster than OTAs in the leisure segment and now fast approaching their scale.

With the association with RB Investments in this round we will achieve our vision faster".

The current round of fund infusion will be utilised for providing better value to customers and ramping up team, the company said.

"We see TravelTriangle marketplace as the key beneficiary of fast growing outbound holiday market & increasing fragmentation of offline travel agents," RB Investments Pte Ltd's Harshavardhan Bothra said.

TravelTriangle was established in October 2011, by three IIT alumni - Sankalp Agarwal, Sanchit Garg and Prabhat Gupta.