Stayzilla, an India-based service that combines regular hotel bookings with short-term, Airbnb-style rentals, has announced a $20 million Series B round to grow its business.
The round, details of which leaked last week, was led by Nexus Venture Partners and existing investor Matrix Partners. Stayzilla, which was founded in 2010, nabbed an undisclosed Series A round in October 2013 having closed a $500,000 seed-round in 2012.
Stayzilla is an interesting beast. The overall focus is on letting users book accommodation across India for a stay of up to one month. The startup — which makes money via a varying rate of commission on each booking — initially went after traditional stays, such as hotels and guest houses, but hit a growth spurt when it eased up on how it managed ‘alternative’ accommodation selection — principally peer-to-peer rentals and homestays.
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