WeAreHolidays closes a funding round from Matrix Partners and others

Delhi based holiday recommendation startup, Weareholidays has raised an undisclosed amount from Matrix Partners, Blume Ventures and GSF Superangel Investors, reports YourStory. The company aims to utilized the raised funds for technology development, to expand its business strategy and analytics expertise.

Weareholidays provides an engaging online platform to help people get inspired, research, plan, book and share their holidays. It helps in searching for holidays packages that can be booked and customized online.

weareholidays

Weareholidays was launched in 2011, as a venture of  Deepak Wadhwa and Harkirat Singh, former employees of MakeMyTrip, along with Mohit Piplani, who had worked with Michael Page International. It consisting of 50 employees in its current team. The company is backed by six investors.

 “We believe there is a huge opportunity to leverage technology to re-define the experience of leisure travellers in an industry which has traditionally been very slow at adopting technology & new business models. We’re excited to have Matrix as a partner in this process and our growth,” says Deepak.

See Also: Weareholidays raises seed round from Blume Venture, Mumbai Angels & others

The other players are also included in this space such as Makemytrip, Tripadvisor, Goibibo.

“India has become the fastest growing outbound travel market, the number of Indians travelling overseas is set to rise from 17 million to around 50 million by 2020, making it the second largest outbound travel market globally, next only to China. It is our privilege to be associated with the co-founders of WeAreHolidays, who have built a unique managed marketplace model to best serve the progressive Indian traveller,” says Tarun Davda, Vice-President, Matrix India.

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More from YourStoryIndians travelling overseas for leisure alone is a $5 to $7 Billion market and is growing at 40% annually. 10% of this comprises complex customized holidays, a segment which is growing much faster than other segments as travellers seek more personalization and control over their holidays.

The travel sector in India is looking promising at the moment with many large pieces coming together (have a look at the complete travel funnel). WeAreHolidays has survived in the space for more than three years and their persistence and growth has also attracted investor confidence.

To contact the author, email at sujata@iamwire.com.

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