Online travel company Stayzilla.com, has raised a $20 million, Series B round of funding from Nexus Capital & existing investors Matrix Partners.
The funds would be used primarily to expand the nascent alternate stays market in India by driving increased seller adoption for the purpose of business expansion into new towns.
The startup is offering accommodations which includes more than 20,000 hotels, lodges, jungle lodges, boat houses, homestays across the length & breadth of India covering more than 4000 towns.
Yogendra Vasupal, Founder & CEO, Stayzilla said, “We intend to tap newer destinations to reach over 8,000 towns and 50,000 accommodations by the end of the year alone. Our earnest efforts will continue to seamlessly expand and provide convenient hotel and alternate stay options for travelers from India and abroad alike. In line with this we also aim to expand the nascent “Alternate Stays” market in India which is in reality several times larger than the structured hotel reservations industry.”