TravClan,
an India-based startup that helps travel agents build their digital
capabilities, has raised $4.7 million 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 enable agents to set up online websites in a
matter of seconds to begin selling flights, hotels and packages from suppliers around
the world and using built-in payment and credit solutions. Customers also get
access to marketing tools to help them 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 grown 20X compared to pre-COVID levels. TravClan
will invest the new capital in developing its product and technology as it
looks to grow 10X over the next 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,” says Arun Bagaria, co-founder and CEO of TravClan.
TravClan has expanded its physical presence in 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 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,” says Tak Lee of Hashed Emergent Fund.