App-based discovery and transactions platform, YuMiGo has reportedly secured $300K in its first round of funding from businessman-turned-angel investor, Hemant Sahni.
The raised funds will be used to scale up the company’s travel website that will cater to the needs of international travellers during their trips.
The company was incepted in October 2015 by Pratyush Kukreja and Rishabh Sood. It offers services to international travellers like foreign exchange, international SIM cards, Visa process, and online travel insurance.
Talking about the investment, Pratyush Kukreja, co-founder and COO, Yumigo said, “While selling flights or hotels, nobody is thinking about the traveller. If a business solves more than one pain point for a traveller, it can engage at a deeper level – which translates into increased loyalty, a larger share of traveller’s wallet, higher LTV and lower CAC.”
YuMiGo has earlier been a part of BW’s Accelerator Programme and UberExchange programme. It has plans to launch services in travel inspiration and in-destination engagement with the travellers to offer a complete package to them.
It claims to offer currency exchange solutions for more than 100 countries all across the globe, 50+ voice plus data packages, and Visa service for almost all major countries.
Earlier this month, Deyor Camps, a chain of branded camps raised $500K from Nitin Passi, Manickam Mahalingam, Udaan Angels, Rajesh Arora, and Arkas Industries. Prior to that, in August 2016, Kerala-based travel startup VST Travels raised about $27K (INR 1.8 Cr) funding from Dubai-based Promatus Group.
Other major startups in the travel industry include Tripoto and Smartairtrip among others.
This development was reported by Business World.