TravelTriangle sets new benchmarks; records GMV over Rs. 350 crore
New Delhi [India], June 1 (ANI): Fastest growing marketplace TravelTriangle on Thursday announced yet another benchmark by achieving unit economics profitability (earning revenues on every transaction post marketing, payment gateway, support and ops cost) and securing a gross marginal value of over Rs. 350 crore as of March 2017.
The company became Contribution Margin Net Marketing (CMNM) positive in 6 key geographies in June 2016 including an international market. As of April 2017, TravelTriangle has achieved unit economics profitability across all geographies in the market.
"In the fiscal year ending March 2017, we have accomplished two key objectives. First, we ensured that we achieve enough liquidity in the marketplace. Second, we were able to break even on all transactions and reach to unit economics profitability across whole of business. In the next year, our goal is to make TravelTriangle EBITDA profitable – a feat which looks clearly possible on our roadmap to future growth," said CEO and co-founder TravelTriangle, Sankalp Agarwal.
"We are looking to further grow profitably as we have done over the last year. We have seen the impact that agent networks in the marketplace have had so far, and with more suppliers joining us, travelers will further benefit through cheaper prices and a wider range of high-quality services," added Agarwal.
"It is unusual for an internet-based start-up in the consumer sector to talk profitability, but with the slump in the funding that the start-up industry witnessed last year, fancy metrics and the practice of achieving customer acquisition at any cost is no longer a viable model," said co-founder and CTO TravelTriangle, Prabhat Gupta.
Adding to this, Gupta added that the company secured a funding of USD 10 million early this year based on our performance and sustainable business model, which has shown promise from very early on.
Focused on building India's largest online holiday marketplace, TravelTriangle endeavors to make holiday planning a delight for its customers.
It believes the planning process should be simple and intuitive and is constantly adding newer and exciting destinations to its offerings.
Earlier in July 2014, TravelTriangle raised a pre-series A investment of USD 1.7 million from SAIF Partners. The company recently raised USD 10 million in a Series B round of funding led by RB Investments, a Singapore-based venture capital firm along with existing investors SAIF Partners and Bessemer Venture Partners also participating in the round. (ANI)