As per the mint report, Stayzilla has raised $13 million Series C funding from existing investors Matrix Partners and Nexus Ventures, according to documents filed with the Registrar of Companies.
In report the funding round of online aggregator of budget hotels split into three tranches of $8.8 million (Rs.58.5 crore), $1.9 million (Rs.13 crore) and $2.4 million (Rs.16.3 crore), between November 2015 and March 2016.
About Stayzilla –
Stayzilla was founded by Yogendra Vasupal, Sachit Singhi and Rupal Yogendra. The company which started off by offering travelers stay options in budget hotels, last year forayed into home stays, connecting travellers with homeowners with spare accommodation in their houses.
Earlier, Stayzilla raised close to $20 million from Nexus Venture Partners and Matrix Partners in February 2015. The current investment marks the cautious venture capital funding market where investors are picking their bets selectively.
According to its website, it currently offers 30,000 stay options, including hotels, lodges, homestays and guest houses across 4,500 cities.
Stayzilla competes with budget hotel accommodation service provider Oyo Rooms and online travel agencies (OTAs) including MakeMyTrip, Goibibo and Yatra as well as home rental provider Airbnb.
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