Gurugram-based traveltech startup Qacco has raised $150K in an angel funding round led by Lead Angels Network (LAN). LAN is an alumni-focussed pan India angel network. Anbu Pandian, Prabhakar MR and other investors from LetsVenture also participated in the round.
The raised funds will be used to develop Qacco’s technology and team along with B2B focussed marketing campaigns.
Sushanto Mitra, Founder & CEO of Lead Angels said, “Qacco addresses pain points on both sides – on the one hand, it acts like a private concierge for corporate employees enabling discovery of excellent high-quality stay options; on the other hand, it provides the right kind of positioning and showcasing to top rated hotels & homestays and helps them pitch their customised deals to a high-value audience at a zero marketing spend.”
Anbu Pandian, further added, “I met Chaitanya in October 2016 and I was instantly sold on his idea and capability to execute it. As someone who loves travel, I could easily relate to Qacco’s vision and I think it taps into a big market. The concept of a virtual holiday travel desk for boutique hotels is a much needed digital solution. I can see the Qacco’s B2B and B2C business model with low acquisition costs and large market size fit very well with the target customer. I look forward to seeing the business grow and to be part of the journey.”
Launched in July 2015 by Chaitanya Jha and Abhinav Imandi, Qacco is operated by Qacco Hospitality Pvt. Ltd. The startup enables curated hotels to sell exclusive deals to a large, closed user group of corporate employees.
As explained by Chaitanya, Qacco is India’s first virtual holiday desk exclusively for corporate employees. Unlike regular online portals, Qacco provides restricted access to only the employees of companies that signup. Employees can then access exclusive travel deals from curated hotels & homestays by logging in through their official email ID for their personal holidays.
The company earns revenues through a margin charged from the hotels on the booking value. At present, the founder claims to have tie-ups with 300 hotels across 95+ destinations in India, with options ranging from jungle lodges, beach retreats, heritage hotels, homestays, and more. Also, companies such as Accenture, FIS Global, TCS, Wipro, Tata Communications, IDFC Bank, Essar Group, Tata Motors, etc., have adopted Qacco’s offerings as part of their employee benefits program.
In the next three to six months, Qacco intends to tie-up with 100+ companies as well as multiply its network of hotels.
In August 2016, VST Travels, a Kerala-based travel startup raised $27K (INR 1.8 Cr) funding from a Dubai-based Promatus Group. Other similar startups in this sector are Trip38, Travel Triangle, Stayzilla, Tripoto and more.