Startups Money

Hotel booking platform gets funding from IAN

12 Jul, 2016

Find-My-StayFind My Stay Pvt Ltd, which runs hotel booking platform, has raised an undisclosed amount in pre-Series A funding led by Rishi Parti and Yogesh Bansal on behalf of the Indian Angel Network (IAN).

The New Delhi-based company will use the funds for product development, brand building and enhancing its technology, as per a press statement.

Findmystay was founded in 2013 by Rohit Khetrapal and Simran Sial. It is a reverse bidding hotel booking platform that allows customers to offer their price to the hotel. It connects the users in real time with hotels looking to sell the inventory they foresee going unsold.

Khetrapal claimed that the company's customers save, on average, 25% more than when they opt for larger online travel agencies and last-minute hotel booking apps.

The company has tied up with Lalit Group, The Park, Pride Group, Ginger Hotels, Oyo and HHI. The platform is available on web and also on Android and iOS apps. It claims to have about 2,000 hotels on its platform across 35 Indian cities, and it plans to double the count within the next 18-24 months.

IAN's most recent funding deals include investments in mobile advertising platform PayTunes, tech-enabled fashion startup 6Degree, Delhi-based city guide Little Black Book, entertainment firm Roast Media Pvt Ltd which operates mobile entertainment app Roast and robotics startup SP Robotics Works.

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