SaaS platform Itilite secures funding from Matrix Partners and others

Must Read

President Ram Nath Kovind appoints new governor for Kerala, Telangana, Himachal Pradesh and Maharashtra

President Ram Nath Kovind appointed new governors for Maharashtra, Kerala, Telangana, Rajasthan, and Himachal Pradesh on Sunday. Former Union Minister Kalraj...

NRC list for Assam released; Fear looms as 19 lakh people face exclusion

NRC (National Register of Citizens) for Assam has been published at 10 am today. The final list excludes over...

Lateral Entry Era Begins as Union govt. appoints 9 professionals to Joint Secretary posts

The government has appointed its first batch of private professionals to the post of Joint Secretary in various ministries....

Itilite, a startup that offers a Saas-based end-to-end travel management platform, has announced that it has secured a new funding round, but remained shy of revealing the numbers.

While the amount raised by the company is not known, it is known that the funding round saw participating from Matrix Partners as well as few angel investors.

The startup is founded by former McKinsey and Myntra executives Mayank Kukreja and Anish Khadiya. Itilite has created a SaaS platform which can help reduce the cost of corporate travel for companies by incentivising its employees in the form of gift cards or cash.

Mayank Kukreja, co-founder of the company, said,

Corporate travel is a $35 billion market in India and is largely fragmented and serviced by offline travel management companies. Itilite’s approach is to reward employees for travel savings, thus making them the biggest ambassadors of travel cost reduction.

Gourav Bhattacharya, vice president, Matrix India, said,

Corporate travel is in some sense the final frontier of travel – a large market that has meaningful components that are still offline and manual. Itilite’s SaaS product takes a lot of the friction out of the process and drives cost saving for clients that create direct bottom-line impact.

The company, which was founded around ten months ago, claims to have over 20 clients, and further says that it saved customers’ travel cost by 30 percent within three months by rewarding employees through splitting the savings with the company.

While the company says that there is no other company in India which operates in this space, globally, the startup will be up against the likes of Rocketrip and TravelBank.

- Advertisement -

Latest News

PM Modi urges diaspora to help boost tourism

Houston, Sep 23 (IANS) Prime Minister Narendra Modi urged Indian Americans to help boost tourism in India by bringing...

‘Majama che, sob khub bhalo’: PM Modi says at ‘Howdy Modi’

Houston, Sep 23 (IANS) Prime Minister Narendra Modi, addressing a crowd of 50,000 cheering Indian Americans, said the answer to the question 'Howdy Modi'...

PM Modi leaves for New York after Howdy Modi event

Houston, Sep 23 (IANS) After the hugely successful 'Howdy Modi' event in Houston that saw US President Donald Trump share the stage with him,...

Will sit down with President Trump for positive deals: PM Modi

Houston, Sep 23 (IANS) Prime Minister Narendra Modi pitched India as an attractive investment destination and said that with the "economic miracle" being wrought...

No plans to meet with Rouhani at UN: Trump

Washington, Sep 23 (IANS) President Donald Trump said Sunday that he had no plans to meet with Iranian President Hassan Rouhani during the UN...
- Advertisement -

More Articles Like This