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2015-02-20

Travel start-up Smartairtrip.com raises $10 million in Series A funding

Smartairtrip.com offers the best discounts in the industry to the end consumer directly through its website.

 Smartairtrip.com, an IATA approved B2B and B2C travel company, has just raised $10 million in an initial round of funding for 10 per cent equity in the company,raising its valuation to dollar 100 million.

“Apart from utilising these funds to enhance their technology, strike exclusive deals with airlines and hotels, operational expansion and marketing, Smartairtrip would also use the finance to pre-purchase hotel rooms exclusively and seats in various airlines, and would sign up exclusive deals,” said the press statement.

Smartairtrip, a part of Smart Trip Tour & Travels Pvt Ltd, is a New Delhi headquartered global travel company with presence in India, USA, UK, Canada, and Thailand. A B2B travel company, the company concentrates on offering exclusive deals to travel agents with rich airline and hotel content with the highest commissions in the travel industry.

Smartairtrip.com offers the best discounts in the industry to the end consumer directly through its website. No matter where you travel from they are able to beat any price offered by any travel portal.

The company is in the process of filing its prospectus for going public on the Bombay Stock Exchange and will list its ADRs on the NASDAQ stock exchange in the next financial year. Last year, the company had turnover of Rs. 36 crore and, this year, the company is expected to touch Rs. 200 crore, which is a 45 per cent growth.

The online travel portal is aggressively focusing on expanding its domestic agent network. It currently has 12,300 travel agents. Globally, it is focusing on signing off at least 50,000 travel agents, and is offering 1.5 per cent commissions in the domestic market space, which is much higher for travel agents as compared to other air and hotel consolidators in the domestic market.

“Smartairtrip will exclusively pre-purchase inventory of 5-star hotel properties globally to enhance profitability and will specially promote those properties in the online and B2B market space through various online meta search engines, television etc, added the press statement.

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