YuMiGo, a discovery and transaction platform on web and mobile for foreign exchange and international SIM card services, has raised $300,000 in its first round of funding. Started by Rishabh Sood, Pratyush Kukreja, Arun Arya and Anirudh Rastogi, this startup has also announced the launch of its travel website that solves the pain points of international travellers not just while planning the trip but also during the trip.
There are several websites selling flights and hotels, but everything before and after is fragmented and unorganized.
Commenting on the development, Rishabh Sood, co-founder at YuMiGo, says, “I realized how frustrating it gets to plan a trip abroad because a traveller has to engage with multiple service providers for getting a visa done, buying foreign currency or a calling card and figuring out the right travel insurance. We came up with the idea of not just helping out a traveller, but also creating a systematic honest search that will not leave a traveller swindled.”
Pratyush Kukreja, co-founder & COO at Yumigo, adds, “While selling flights or hotels, nobody is thinking about the traveller”. If a business solves more than one pain point for a traveller, it can engage at a deeper level - which translates into increased loyalty, a larger share of traveller’s wallet, higher LTV and lower CAC.”
This young team of entrepreneurs incepted the company with the sole purpose of making a difference in the travel industry and revamping the travel and forex markets.
Yumigo, has raised its first round from Mr. Hemant Sahni, a businessman with diverse investment interests. Given his exposure and experiences Hemant deeply related with the problem this startups is trying to crack, and believed in the potential in this venture and the team to bring in much needed change within the travel domain.
Incepted in October 2015, YuMiGo currently offers currency for over 100 countries all across the globe, over 50 voice plus data bundles to suit every traveller’s requirements, travel insurance plans from multiple service providers and visas for all major countries. It will also be launching services in travel inspiration and in-destination engagement with the travellers to offer a complete solution to them; and is already in discussion with multiple global service providers.
YuMiGo has been a part of prestigious Indian and international acceleration programs like BW Accelerate and UberExchange; and counts Saurabh Srivastava, ex-CMO at Ixigo & Jabong and Shesh Vasudevamurthy, ex-Product Head at Groupon APAC & co-founder at Xervmon Inc. as its mentors.
Elated with the developments, Ashu Agrawal, Director, BW Accelerate comments, “Travel is one of the most evolved and competitive business verticals in the new age tech economy. It offers a very restricted possibility of creating a horizontal play. At Yumigo we identified one such permutation, which essentially is the strongest underlying for any traveller and build a truly outstanding product. In Rishabh & Pratyush we have a very sharp team who has worked very hard to blend their experiences and inconvenience in an application to service consumers globally."
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