Train ticket booking platform Trainman raises angel round funding, will improve the product

Trainman has earned more than Rs 100 crore in ticket booking. The company is earning a net profit and the company has registered an increase in income even in the midst of Kovid-19.

Trainman raised money from investors

Train ticket booking platform Trainman has announced to raise funds from several top investors like Vijay Agarwal, CTO of Bharat-Pe, Nitin Gupta, CEO of Mall 91, Vishal Kanodia, Director, Kanodia Cement Limited, among many others. However, the company has not disclosed how much fund was raised in this angel round. The funds raised by the company will be used for the expansion and optimization of the multi-modal platform to provide better services to rail passengers.

Number of users crossed 1 crore

Gurugram based train travel app startup is the official train booking partner of IRCTC. Trainman App is a one-stop solution for online train ticket booking, seat availability, PNR status, running live status, coach position and fare information. So far the number of its users has crossed one crore. Vineet Chirania, CEO & Co-Founder, Trainman, said, “Trainman has been at the forefront of introducing innovative and effective solutions to make online train ticket booking more flexible and agile. It is emerging as the leading solution provider in this industry. More than one crore users are using it. The app provides cost-effective services using comprehensive back-end systems to streamline train ticketing processing.” Karan Kumar, Co-Founder, Trainman, said, “We have fast-paced development tools like predictive analytics and data analytics. Taking advantage of the growing verticals, there are detailed plans to increase our investment in technology and products. Trainman is also looking to expand its reach in Tier-3 and Tier-4 market. In true sense, big business in India comes from these cities only. Month-on-month revenue growth has already put Trainman in competition with established companies in the industry.”

Preparation for the entry of the company in the new segment

After the first round of funding from leading investors, the company is preparing to enter new areas. Along with this, the company is becoming more active in finding new investors to increase investment in products and technology. Trainsman has already generated over Rs 100 crore in annual ticket bookings with over 1.5 crore monthly journeys. The company is earning a net profit and the company has registered an increase in income even in the midst of Kovid-19. The company expects earnings to grow manifold in the coming financial years.

Indians will get the benefit of increasing their spending power

The CEO of the company says that “The spending power of people has increased in India. As this strength increases, the service sector is expected to accelerate. The market of online ticket booking platform will also grow rapidly. One reason for this is that after the pandemic, more people are taking services using tablets and phones.

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