GoStops, India’s fastest growing chain of youth traveller hostels, has raised an undisclosed amount of funds as part of its recent funding round from angel investors.
The round also saw participation from investors like Nitish Mittersain (founder and MD of Nazara Games), Sorabh Agarwal (ex-MD at Copal Partners), Sameer Walia (founder and ex-MD at The Smart Cube), Rohit Shankar (co-founder of Dimdim.com), Sunil Kumar Singhvi (owner at South Handlooms) and other senior corporate executives.
Delhi-based GoStops is planning to expand its presence across the country by doubling their bed capacity within the next 12 months. GoStops also plans to utilise these funds to enhance its product offerings through investment in technology and training, add new revenue streams, strengthen its marketing and build a team to handle the next phase of growth.
Besides the basic services like high-quality beds in air-conditioned dorms and private rooms, 24x7 CCTV security and café, the hostel offers several facilities like mini theatre, football and pool table, aesthetically designed work and lounge areas. There are specially designed common areas for activities and socialising so that travellers can explore various destinations together.
“Many short stay options (hotels and guest houses) available within youth budget are of poor and unpredictable quality and not very user-friendly. We aim to solve this problem for the youth by offering affordable, social and experiential hostels. 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,” said Pallavi Agarwal, co-founder and CEO.
