Pickyourtrail, India’s best-rated travel company has raised an undisclosed funding from Kunal Shah (CEO, Cred), Adit Parekh (Ex Blume Ventures) and Vinay Ahuja (Executive Director, IIFL Wealth) and existing investors.
“The valuation and double down by both new and existing investors is a great validation to both the market potential. The entire team has shown great resilience in having survived the pandemic despite the 2-year ban on international flights. The team adapted quickly and launched newer vertical like staycations, our global biz and also beefed up our product and tech.” said Hari Ganapathy, Co-founder of Pickyourtrail, on the occasion of the fund raise.
As part of their global expansion plans, Pickyourtrail opened a new office in Dubai last week.
The funds acquired will be used to continue gaining leadership in the leisure space and be the preferred travel brand for new age travellers across the world.
“Going global was always on the roadmap and our initial experiments through the first and second wave of the pandemic gave us an opportunity to test out the market. There is a clear gap for a reliable global holiday travel brand and we believe that our expertise in catering to one of the most value conscious customer segments (India) puts us in a unique position to build out that brand with our market-leading tech! Markets like the USA have a $100B+ outbound travel scope and even a small share of that pie is a significant opportunity.” said Srinath, Co-founder of Pickyourtrail.
On the new investment, Kumar Vembu, CEO GoFrugal Technologies, said, “As an international holiday company, Pickyourtrail was the worst hit travel brand in India. The pandemic was the time where many big names like CoxnKings, ThomasCook (UK), VirginAtlantic, to name a few, have fallen by the wayside. Pickyourtrail not only survived but also added multiple lines of business and invested the downtime in building out their tech and product stack. With the macro conditions for travel getting better, I am confident of them growing exponentially over the next few years!”
