SAIF Partners announces INR 10 crore in funding for TravelTriangle.com
SAIF Partners, the venture capital and private equity firm which manages over USD 1 billion of investments in India, has announced a funding deal with TravelTriangle.com worth INR 10 crore.
TravelTriangle.com is a registered product of Holiday Triangle Travel Pvt. Ltd, founded in 2010 by three IIT post-graduates. It is the first company in India to launch a marketplace for travel agents who can provide customised tours packages to travellers at the best prices.
The USP of TravelTriangle.com is that it enables customers to connect to multiple local travel agents, get quotations, customise their trips according to their preferences and book through the site directly. The company is already clocking in around USD 3.5 million in annual gross transaction value run rate.
Users can also go through over 1,400 reviews of agents written by other travellers and make their choices empowered by this knowledge.
Mukul Singhal, Principal, SAIF Partners, said, “Tours and packages is a large and growing market in India. There is a big pain point around fulfillment and customisation. We liked what TravelTriangle has done so far and would like to participate in the journey of such a great team.”
Sankalp Agarwal, Co-founder & CEO at TravelTriangle.com said, “We already have 30,000 to 40,000 uniquely-personalised itineraries from 430 travel agents on our website. We have a large number of repeat customers and positive reviews on the site. Although the company is profitable, we could feel a palatable need to invest in technology and product. This round of funding from SAIF Partners will enable us to create vital intelligence around Pricing, Engine, User Data and Mobile.”
TravelTriangle.com having served customers from 33 countries with the majority being from India. The company invests heavily in Big Data analysis to empower agents to provide personalised services for travellers and to ensure the best possible leisure trips for their customers.
Payment technology company Zooz raises USD 12 million from Blumberg Capital & Others
Checkout and payment technology company, Zooz that enables enterprise-class retailers and growing businesses to optimize their payments performance, has secured USD 12 million in Series B round. The round was led by Access Industries, Camp One ventures, Lool ventures, Rhodium, XSeed Capital and Blumberg capital.
The company aims to utilize the raised funds for extend its existing operations, opening new offices and for technology development. Earlier, it had received USD 3 million in Series A and USD 1.5 million in seed round. The latest round brings the total capital of the firm to date is USD 16.5 million.
The 4-year-old company, based in Tel Aviv, Israel, has over 800 retailers worldwide and partners with payment gateways, processors, and e-wallets to ensure that both users and retailers enjoy full flexibility and the broadest of payment options.
Payment Security firm Biocatch secures USD 10 million in Series A round
Israel-based, Payment security firm, Biocatch which provides payment security services to e-retailers, banks and other organizations, has secured USD 10 million in Series A round led by Blumberg Capital and OurCrowd. The new funds will be used for research and development and global expansion.
BioCatch said its software helps clients detect threats by analyzing consumers’ behavior on PCs or mobile devices. “BioCatch creates a behavioral biometric signature that it associates with the user profile,” the company said. “If deviations are detected, then a real-time alert can be sent to the bank or e-commerce site.”
BioCatch cyber strategy chief Uri Rivner explained that the problem today is not necessarily fraud, but [that] they want to make sure it’s really you, so they add a lot of security, which is friction, We’ve demonstrated that we can reduce that friction and operational costs. We can find things other technologies can’t find, looking for user interaction.
“It does create a model for [an account] but without knowing the identity for that user. Let’s say you have an account for several users. The technology wouldn’t know that this was the husband and this was the wife. It would know this is the typical behavior of the user or users inside the account.” The monitoring only goes on while the web service or app is in use, Rivner added.
GigaOm says: BioCatch already counts top-5 banks in the U.K., Spain, Italy and Brazil as customers, Rivner said, as well as a top-50 bank in the U.S. The company intends to use its funding to boost research and development, as well as sales, in the key European, Brazilian and North American markets.
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