Travel startup icanstay raises Rs 2.25 crore from investors

NEW DELHI: Travel e-commerce startup First Time Travellers Ltd ( FTTL) on Friday said its flagship portal icanstay.com has raised Rs 2.25 crore from angel investor, which now values it at Rs 32 crore.

The portal, which was launched in February, is voucher based travel portal specialising providing luxury hotel to its customers.

"This investment will help us increase our footprint and inventory. Further, we are continuously strengthening our product offering and user experience. We are targeting a turnover of Rs 700 crore by 2020," FTTL COO and co-founder Puneet Gupta said.

This investment values FTTL at Rs 32 crore in a short span of just nine months, the company said. First Time Travellers Ltd is a Delhi-based online start- up with specialty in luxury hospitality.