Backpacker hostel chain The Hosteller raises Rs 48 crore in round led by V3 Ventures
The Hosteller, a backpacker hostel chain, has raised Rs 48 crore in a funding round led by V3 Ventures in a mix of equity and debt. This includes a debt of Rs 16 crore from the venture debt platform Blacksoil.
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The round also saw participation from Synergy Capital Partners, Unit-e Consulting LLP, Real Time Angel Fund (Climber Capital), Ice VC, along with angel investors like Harsh Shah from Naman Group Family Office and The Souled Store founder Vedang Patel.
The funds will be used to expand its footprint across India.
«We've just raised a round of funds which will be utilised to go from 2,500 beds today to 10,000 beds in the next 15 to 18 months,» founder Pranav Dangi told ET in an interaction.
According to him, 90% of the funding will go towards property expansion, with the remaining 10% for customer acquisition.
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