Thinkwide PGO, a startup which helps people find hostels and PG accommodation, has raised $1 million (approx INR 7 crore) from clutch of individual investors, reported Yourstory.
The Hyderabad-based startup Thinkwide PGO will use the infused capital to help it consolidate service offerings, lay more emphasis on enriching its technology platform, widening properties network, and foray into newer citites.
Hari Krishna, founder and CEO, PGO, said, “We are excited to announce this new investment commitment from our investors – real estate veterans, Ektha’s Sreeni Musani and IRA Reality’s Narsi Reddy Posham. This reaffirms the investor’s faith in our business model and the uniqueness of our product.”
Thinkwide PGO was founded by Hari Krishna in 2018. The platform Thinkwide PGO helps users find hostels and PG accommodation. It functions as a peer-to-peer marketplace, connecting stay seekers with the providers.
The startup showcases verified properties on its platform and aims to provide users with data such as guest reviews and stay tariffs for pocket-friendly living options.
PGO claims that it has expanded its field operations to four cities in India and has added 13,072 properties, which offers close to 6,33,624 beds.
Till date, the platform also claims to have close to 157,199 users and has recorded 205,782 total stay days on its properties.
In addition, as per the recent reports, the accommodation startup aims to hit 1.8 million online bookings by 2025.
Similar to PGO, other platforms to book hotel and PG accommodation include Nestaway, NoBroker, 99Acres, Magic Bricks among more.