WeAreHolidays Gains Funding From Matrix Partners.
The online marketplace for booking customized holiday packages, WeAreHolidays, has recently manage to raise an undisclosed amount of funding from Matrix Partner India for a significant amount of stake. Currently Joining investor included Blume Ventures and GSF Superangel Investors have co-invested during this round of equity funding for the company.
WeAreHolidays plans to utilize this recent funding to grow its business and deepen its technology and analytic expertise.
From what been stated by the company, Indians traveling overseas for purely leisure along amounts to US$5 billion to US$7 billion market and is growing at around 40 percent annually. Ten percent of these also include complex customized holidays, a segment of which is increasingly growing much faster as travelers seek more personalization and control over their holidays,
“We believe there is a huge opportunity to leverage technology to re-define the experience of leisure travellers in an industry which has traditionally been very slow at adopting technology and new business models. Matrix’s deep experience across various industries, geographies and markets will be invaluable as we look to re-define the way holidays have been packaged, sold and serviced,” said Deepak Wadhwa, Co-founder and CEO, WeAreHolidays.
Initially founded during 2011 by Wadhwa. Harkirate Singa and Mohit Piplani, the company leverages its proprietary recommendation platform to create and plan holiday itineraries and services them through it supplier marketplace.
“India has become the fastest growing outbound travel market, aided by an increase in the number of affordable international travel options, higher disposable income and a penchant for bespoke experiences. The number of Indians travelling overseas is set to rise from 17 million to around 50 million by 2020, making it the second largest outbound travel market globally, next only to China,” saidTarun Davda, VP, Matrix India.
The company had previously secured an undisclosed amount of financial funding from Blume Ventures, Mumbai Angels, Sachin Bhatia, Co-founder, MakeMyTrip and GSF India.
WeAreHolidays also suggests places to discover and activities to do during the holiday. It takes care of any associated formalities such as visas, insurance, SIM and data cards etc.
Sachin Bhatia, Co-founder of MakeMyTrip and an angel investor in WeAreHolidays added, “The team at WeAreHolidays brings together a deep understanding of the travel ecosystem, consumers and technology. The fresh investment by Matrix will help it bring innovation to market and scale up its managed marketplace model.”