For expanding its base in the mobile app segment, online holiday information portal HolidayIQ is planning to raise a funding from its existing investors Tiger Global Management and Accel Partners. The amount is still undisclosed
“We are in talks to raise a fresh round of funding from our existing investors which is mainly for expanding our base in the mobile app segment as we feel that it is the next big thing,” said Hari Nair, Founder and CEO of HolidayIQ.
Since 2010, the company has already raised four rounds of funding from these investors and is planning to get the fresh investment by the end of third quarter of the next financial year. HolidayIQ provides around 37,000 accommodation choices in more than 1,300 destinations and its recently launched offline app is aimed to help people to find their needs in remote locations without internet connectivity.
According to the company their website, which operates on user generated content, has more than 3 million contributors and app has seen more than 98,000 downloads since its launch in November last year.
Tiger Global and Accel Partners have invested separately in a number of startups and online portals including Flipkart, Commonfloor and Snapdeal. Recently, Tiger Global has invested Rs 25 crore in News In Shorts along with other partners.