Delhi-based online travel startup SmartAirTrip has raised $10 million at a valuation of $100 million from unnamed investors. The company is giving away 10 percent equity stake to the investors. It aims to utilize the raised funds to enhance their technology, strike exclusive deals with hotels and airlines, expand operations and marketing.
As per a NextBigWhat report, the company is in the process of filing its prospectus for going public on the BSE, and will list its ADRs on the NASDAQ stock exchange in the next financial year. Last year, the firm closed its books with Rs 36 crore and is targeting Rs 200 crore this year.
SmartAirTrip focuses on offering exclusive deals to travel agents with airline and hotel content and claims to offers highest commissions in the travel industry. Currently, it has 12,300 travel agents with presence in India, UK, Canada, USA and Thailand.