Event: 2019 Phocuswright Conference
Product: Travelstop
Category: Startup company
HQ: Singapore
Principal(s): Prashant Kirtane, CEO & Co-founder; Vijay Aggarwal, CTO & Co-Founder
Funding: Travelstop has raised a total of US$4.2M in the last 18 months. A seed round of $1.2M was led by SeedPlus, and a pre-series A round of $3M was led by Accel Partners with participation from Strive.
Product Description: Travelstop is a modern SaaS platform that simplifies business travel and automates expense management for growth companies. With Travelstop, you can: 1) Book your flights and hotels; 2) Manage your travel and expense policies; 3) Manage your approval work flows; 4) Automate your expense management; 5) Get data-driven insights. Travelstop builds tools to help growing businesses manage their business travel and expenses more efficiently. Our mission is to empower businesses with tools that help them reduce costs and improve productivity.
Business Model: Travelstop is a SaaS platform and charges a simple subscription fee of US$10 per active user. Travelstop also makes addition revenue from ancillary products like travel insurance and premium support. Travelstop does not charge any transaction or service fees for any travel bookings.
Competitors: Travelstop is initially focused on theunmanaged travel space in Asia and does not have any notable regional competitors. TripActions, TravelPerk, Rydoo, NexTravel are some of the global competitors.
Competitive Edge: Travelstop's founding team has experience and skills to build a world-class SaaS platform that simplifies business travel and automates expense management for growth companies. Travelstop is self-serve, modern, one-stop platform for corporates to book travel, manage approval workflows and manage expenses.
Market Opportunity: Travelstop is focused on simplifying business travel and expense management for high-growth companies in Asia. Asia is the largest business travel market in the world, comprising 40% of global business travel. By 2025, business travel spending in Asia will more than double, making up half of the worldwide total. 80% of all business travel in Asia is unmanaged and Travelstop is focused on delivering the best-in-class customer experience for corporates in Asia.
Early Customers: Travelstop is initially focused on unmanaged travel space in Asia and has 1,500+ companies registered and engaged on the platform.
Contact: Prashant Kirtane, CEO & Co-Founder; pk@travelstop.com; +65 9 450 4852
