TravClanan India-based startup that helps travel agents build their digital capabilities, raised $4.7m in pre-Series A funding.
The round comes less than a year after the company raised $2.2 million in July 2021 and was led by Hashed Emergent Fund and several angel investors.
Founded in 2018, TravClan’s platform enables agents to create online websites in seconds to start selling flights, hotels and packages from suppliers around the world and using integrated payment and credit solutions. . Customers also have access to marketing tools to help generate demand through social media.
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The company says it is currently working with 15,000 travel agents and its bookings have increased 20 times from pre-COVID levels. TravClan will invest the new capital in the development of its product and technology as it seeks to expand 10 times over the next year.
“COVID has accelerated the need and demand for travel agents to digitize their operations. Our platform enables travel agencies to rebuild their business faster and earn a better living by generating more demand,” says Arun Bagaria, co-founder and CEO of TravClan.
TravClan has expanded its physical presence to eight cities in India, Dubai and Singapore and plans to launch operations in the United States and Southeast Asia over the next 12 months.
“Payments and trust in the travel ecosystem is an important problem that is being solved by TravClan. We are excited about the team’s vision to create in-network payments potentially using blockchain, saving millions of dollars in fresh and building trust in the ecosystem,” says Tak Lee of Hashed Emergent Fund.