Top News

Stayzilla raises $20 mn in funding from Nexus Venture, Matrix Partners

Chennai based online accommodation bookings marketplace Stayzilla.com today announced a $20 million in Series B funding round led by Nexus Venture Partners. 

Chennai based online accommodation bookings marketplace Stayzilla.com today announced a $20 million in Series B funding round led by Nexus Venture Partners. 

The round also saw participation from existing investor Matrix Partners India, reports YourStory. The funds will be used to expand to new cities, develop a stronger brand platform and work with accommodation owners to accelerate the growth of the emerging structured and alternate accommodations market in India, which includes hotels, homestays, guest houses, resorts, B&B’s, jungle lodges, boat houses, paying guests, etc.

Founded by Yogendra Vasupal back in 2006, Stayzilla.com has developed a platform to address this market by offering a selection of over 20,000 accommodations across more than 4000 towns. 

Commenting on the funding, Yogendra Vasupal, Founder & CEO, Stayzilla.com told YourStory, “Stayzilla is the market leader for accommodation bookings in India today. We have achieved tremendous growth over the last year and this investment will help us expand exponentially and tap newer destinations to reach 8000 towns and 50,000 accommodations by the end of the year. For accommodation owners and customers, our end-to-end managed marketplace model has been our biggest strength and we will continue to build on this to complement the massive tourism potential across India.”

Over the next few quarters, the company will focus on inflecting the nascent alternate accommodations market in India. “Stayzilla’s explosive growth, particularly on mobile, reinforces the power of discovery driven marketplaces in a market like India. Matrix Partners India is privileged to be an early partner to Yogi Vasupal and the Stayzilla team in this journey.” Avnish Bajaj, Co-Founder and MD, Matrix India was quoted in the report as saying.

Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Close