Travel start-up RailYatri raises Series B funding
· Travel marketplace logs 1000+% growth with improving margins in 2017. Aims Hyderabad–27th April, 2018 -India’s fastest growing travel start-up, RailYatri has raised an undisclosed amount in Series B funding led by Omidyar Network. With the addition of bus & one-way cab bookings, this Noida-based start-up has rapidly increased its footprint in the long distance travel space and quickly emerged as a top travel destination with over 12 million monthly users. This round led by Omidyar Network, saw participation from all other existing investors including Mr Nandan Nilekani, Blume Ventures and Helion Venture Partners.
· Mr Manish Rathi, Co-founder and CEO RailYatri said, “We are overwhelmed by the travellers response to our platform, and at current growth rates we expect to be India’s largest traveller destination this year. Our marketplace has exceeded expectations and is touching 100Cr run rate in bookings in its first full year. Our offline reach extends to over 100 cities with the tier-2 & 3 cities helping drive growth. We plan to reach 10M annual transaction rate this year, and this round will help us in achieving our goal. Our low cost of acquisition allows growth with margins, and RailYatri is now expanding into budget hotels and packages, for which we are aggressively hiring in all verticals.”
· RailYatri which has a strong base of loyal users has come a long way from being an information platform to a leading e-commerce entity which helps travellers make better, informed buying decisions. Siddharth Nautiyal, Investment Partner, Omidyar Network, added “We continue to be very impressed by the growth, consumer feedback and large-scale impact of the RailYatri platform. They are constantly innovating to improve the travel experience for millions of travellers every day. We are confident that they will soon be the default starting point for any traveller in India and especially the next half billion Indians coming online over the next three to five years. RailYatri’s India-first solution underscores frugal innovation with its data and information-centric approach to travel commerce”
· About RailYatri:
· RailYatri is the #1 long-distance traveler community in India. Noida-based RailYatri.in was set up in 2011 with a mission to simplify train travel with Manish Rathi (Computer Science, Western Michigan Univ, US), Kapil Raizada (IIT Kanpur, IIM Bangalore) and Sachin Saxena (IIT Kharagpur, Stanford) as its co-founders. RailYatri launched its consumer products in 2014 and has successfully expanded its reach even to Tier II and Tier III cities. The company believes in adding intelligent solutions to every traveller’s needs.