Updated: Sep 2, 2020
How an idea of a holiday experience marketplace turned into a well-funded platform in 60 countries?
Have you ever come across different prices while travelling & found those conditions apply tags annoying? 3 IIT graduates felt the same & started Travel Triangle (TT) in 2011. Today TT operates with 300 strong employees works with 650+ holiday planners across the globe.
Sanchit Garg, Prabhat Gupta and Sankalp Agarwal conceived TT to bring the travellers and travel agents on a common platform helping travellers’ book personalised trips at the best prices by connecting them to travel agents at their destinations. Initially, TT had to struggle to make the market understand their model and convince the travel agents to adapt. In 2016, the platform posed a GMV of Rs 200 crore with 20 lakh customers and aims to hit the $100M revenue.
Branding & differentiation
Travel triangle proposes the fun elements of travel in planning the trips. They have around 14 lakh visitors on its website every month and travellers from 60 countries. Seeing their branding, travel start-ups like Trip Factory and Tripoto have also started to customise their offerings as fun-filled outings where players like MakeMyTrip, Cleartrip, and Yatra have enormous growth.
Business Model & Services
A SaaS-based CRM platform facilitating customer interactions, data assisted customer retention & driving sales growth. These assist the travel agents to target the most appropriate customer through deep analytical insights. For travellers, the marketplace offers multiple quotes from verified agents helping in planning the itinerary & offers best deals. The common platform ensured the travel specialist to understand the need of the traveller and customise their offering to give the best experience & price with easy EMIs & cash-on-delivery.
The overseas travel industry is growing at 40% CAGR YOY & leisure travel market in India is about $80 billion annually, which is set to grow to $150 billion by 2024. With series D funding TT has raised $13Mn from the Fundamentum Partnership fund led by Nandan Nilekani, the platform poses strong to survive and resume operations after this lockdown.
Only around 15 million Indians i.e. 1.5% population pack off for holiday which is 30% in the US. The travel market is increasing with the increasing purchasing power of the people. With the travel industry being the worst hit due to Covid19 and continuing travel bans till late this year, let’s expect a bounce back in these numbers in the coming years.