Online travel portal Stayzilla.com has raised $20 million in series B funding from Nexus Capital and existing investor Matrix Partner. 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.
The online hospitality industry has grown significantly over the last 5 years and travelers are seeking new and ingenious options for their stay requirements. Stayzilla.com has developed a platform to address demand by offering a wide selection of exclusive accommodations which the firm claims to include more than 20,000 hotels, lodges, jungle lodges, boat houses, homestays across the length & breadth of India covering more than 4000 towns.
“We intend to tap newer destinations to reach over 8,000 towns and 50,000 accommodations by the end of the year alone.” – Yogendra Vasupal, Founder & CEO, Stayzilla.com
Stayzilla has previously secured Series A funding led by Matrix partners and the Indian Angels Network (IAN). It is owned and operated by Chennai based Inasra Technologies Pvt. Ltd.