Mahindra Holidays is giving this startup a boost in reach, tapping into over 300,000 Mahindra Club members
Mahindra Holidays, the largest leisure and hospitality provider in India, has purchased a 12 per cent stake in the Bengaluru-based startup Nreach Online Services Pvt. Ltd.
The dollar amount of the investment was not disclosed.
Nreach Online Services runs two experience-based websites, giftxoxo.com and frogo.in. Giftxoxo is targeted towards hospitality businesses to help them incentivise and engage customers through ‘experiences’. It launched in 2012 and has over 5,000 activities on its platform.
Frogo.in is a consumer app, marketted towards helping regular people find and book activities and experiences.
The activities are what one would expect from a hospitality company — dolphin spotting, camel rides on the beach, city tours and more.
“Our strength and understanding of experience business coupled with strong brand name of Mahindra Group will help us create a strong supply of curated experiences, build a robust and scalable technology platform and provide value to end customers,” said Manoj Agarwal, the Co-Founder of Giftxoxo and Frogo in an official statement.
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Fellow Co-founder Abhishek Kumar said he sees the Mahindra Group adding reach and an experience boost to an agile company.
“This will also help us adopt to latest technologies at a faster pace and scale to new markets. We welcome their investment, and appreciate the confidence they’ve expressed in our brand, distinguished offering, idealistic leadership and strong growth opportunities,” he said.
As for Mahindra Holidays, they seem to be targeting the investment towards their Club Mahindra programme — which the company says has over 300,000 members.
“Our ‘Club’ members will now have more opportunities to bond with their families not only at our 46 resorts in India and abroad but also in their hometowns, year-round,” said Kavinder Singh, Managing Director and CEO of Mahindra Holidays & Resorts India Ltd. in a statement.
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Nreach Online Services previously raised angel funding from Kshatriya Ventures in 2013 and has offices in New Delhi, Mumbai and Bangaluru.
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