Page 37 - India's 10 Best Tour Arranging Companies For 2019

Our Investors: The Company has
raised a total of $34.9 million in
over 6 rounds of funding, with
investments from SAIF Partners,
Bessemer Venture Partners, RB
Investments, InnoVen Capital,
and Nandan Nilekani-backed
Fundamentum. Challenges Faced:
The journey initially was tough and
TravelTriangle had to face multiple
challenges.
1. Convincing the travel agents
(suppliers) to use our software
solutions and bringing them on
TravelTriangle’s platform was a
challenging task. But we did so by
building an ecosystem that:
a. solved customer acquisition and
marketing for the travel agents
b. provided training and sales
support to the travel agents
c. solved supply-related issues for
the travel agents by connecting
them to other local vendors
d. built brand image of the travel
agents using the real reviews given
by our travellers
2. Closing sales was difficult due
to trust issues. We solved the
customers’ trust by taking only part
payment before the booking and
giving the booking confirmation
that could be verified by the
customer.
3. Competitive pricing was another
issue for TravelTriangle due to
economies of scale, while some
other players in the market were
able to offer large discounts to the
users.
a. But cost leadership was never
our goal. Instead, we focused on
customer experience and value-
added services
b. To reduce the cost, nonetheless,
we did not charge any margins
from the customers. Instead,
we charged the travel agents an
amount as a substitute to their cost
of marketing