WeAreHolidays raises funding from Matrix Partners
Mumbai: WAH Holidays Pvt. Ltd, an online travel planning start-up that owns WeAreHolidays, said it has raised an undisclosed amount from Matrix Partners.
Blume Ventures and GSF Superangels who had invested $350,000 in the company in 2013 also participated in the latest round of funding. The amount is estimated to be equal to a typical Series A round funding, which would be $3-6 million.
“The funding shall help us to develop a stronger technology integration platform with our suppliers across various destinations, improve the booking experience and options for the customers. We are looking to add 500 more destinations to the platform by December 2015,” said Deepak Wadhwa, co-founder of the company, over the phone. The company currently works with a little less than 800 suppliers in 80 destinations across the world.
WeAreHolidays works on a technology-enabled managed marketplace model to help people to research, plan, customize and book their holidays. It leverages its platform to create holiday itineraries and services them through its supplier marketplace. The firm has an average transaction value of Rs. 2-2.5 lakh and has registered 50,000 online transactions so far. It clocked $1 million revenue in 2013-14.