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Stayzilla.com raises $20 million from Nexus Venture Partners and Matrix Partners

Tags: Stayzilla.com, Nexus Capital, Matrix Partners, fund, travel, Inasra Technologies

February 20, 2015 | COMMENTS ( 0 )

Stayzilla.com raises $20 million from Nexus Venture Partners and Matrix Partners

Stayzilla.com, an online travel portal, has raised their 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. This is also expected to fuel its growth to becoming a strong brand platform as the country’s largest online stay provider.

The online hospitality industry has grown significantly over the last 5 years and travellers are seeking new and ingenious options for their stay requirements. Stayzilla.com has developed a unique platform over the years to address this demand by offering the widest selection of unique/ exclusive 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.com, said, “Stayzilla is the market leader for stay bookings in India today. We have achieved tremendous growth last year and this investment will further help us expand exponentially. We intend to tap newer destinations to reach over 8,000 towns and 50,000 accommodations by the end of the year alone. Our end to end managed market place model has been our strength and we will continue to build on this to complement the massive tourism potential in our nation. Our earnest efforts will continue to seamlessly expand and provide convenient hotel and alternate stay options for travelers from India and abroad alike.”

He added, “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. Our marketplace platform will hence become a key driver of change and opportunity in this segment.”

Avnish Bajaj, co-founder and MD, Matrix India, said, “Stayzilla is leading the alternate stay revolution in India, creating for the first time a marketplace for all kinds of accommodation options across 4000+ towns. 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.”

Anup Gupta, Nexus Venture Partners, said, “The increasing penetration of the Internet and Smart Phones coupled with India’s dynamic demographics has created the need for a platform that aggregates the entire range of stay options in our country.  We are extremely impressed with Stayzilla’s innovative end to end solutions to address the reality of low technology adoption among suppliers. We are delighted to partner with Yogi and the Stayzilla team to capitalize on the immense potential of this model in the coming years.”

Stayzilla has previously secured Series A funding led by Matrix partners and the Indian Angels Network (IAN).

“Owned and operated by Chennai based Inasra Technologies Pvt. Ltd., Stayzilla is the largest marketplace for ‘Alternate Stays’ which includes booking solutions for all types of stays. The platform addresses needs across demographic strata by providing accommodation facilities to consumers at affordable costs,” said the press statement.

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