New Delhi, November 8, 2019: goStops, India’s fastest growing premium chain of youth traveller hostels, has raised an undisclosed amount of funds as part of its recent funding round from eminent Angel investors.
The round also saw participation from investors like Mr. Nitish Mittersain (Founder and MD of Nazara Games), Mr. Sorabh Agarwal (Ex-MD at Copal Partners), Mr. Sameer Walia (Founder and ex-MD at The Smart Cube), Mr. Rohit Shankar (Co-Founder of Dimdim.com), Mr. Sunil Kumar Singhvi (Owner at South Handlooms) and other senior corporate executives.
Delhi based goStops is planning to expand their presence across the country by doubling their bed capacity within the next 12 months. goStops also plans to utilize these funds to enhance its product offerings through investments in technology & training, add new revenue streams, strengthen its marketing and build a team to handle the next phase of growth.
goStops is a chain of youth traveller hostels in India having presence in 13 cities with about 800 beds capacity. Besides the basic services like high-quality beds in air-conditioned dorms and private rooms, 24x7 CCTV/Security, 24x7 Front Desk, 24x7 Café etc., these hostels offer several facilities like mini theatre, foosball / pool table, aesthetically designed work and lounge areas etc. in their common areas and many activities to socialize and explore the destination together with other fellow young travellers.
“Currently, short stay options (hotels, guest houses etc.) available within youth budget are of poor & unpredictable quality and not youth friendly. We aim to solve this problem for the youth by offering travellers hostels which are High quality, affordable, social and experiential. Growing number of youth prefer community living (fostering growth of co-living and co-working) and they are willing to share rooms and facilities for greater quality accommodation. Thus, goStops plans to cater to the rapidly growing aspirational demands of the youth in this category” said Pallavi Agarwal, Co-Founder & CEO, goStops.