New Delhi, February 2020: Atraxn recently announced its fifth investment with Delhi-based full-stack youth hostel company ‘goStops’. The startup leases, manages, franchises real estate assets, which are then designed, transformed, marketed, sold, and operated as youth hostels in business and leisure locations preferred by millennials. About 70 percent of its inventory consists of dormitories, and 30 percent constitutes private rooms.
Established in 2012, goStops is founded by Pallavi Agarwal and Pankaj Parwanda who went backpacking across Europe and came back fascinated by the hostel culture there. Currently, they operate 13 hostels in Agra, Amritsar, Bir, Dalhousie, Delhi, Jaipur, Jaisalmer, Mumbai, Naggar, Rishikesh, Udaipur, and Varanasi, with a total capacity of 800 beds across India.
According to Nirmal Singh & Pawan Kumar Co-Founders of Wheebox and Managing Partners at Atraxn, “We are excited to partner in the growth of goStops. The youth traveler market in India is all about excitement and experience. We are sure goStops as a standardized one stop experience for youth travelers is going to bring global and quality experience for its travelersand that is why it stands apart from its contemporaries”.
According to Pallavi Agarwal and Pankaj Parwanda, Founders of goStops, “With the investment from Atraxn Partners along with others, we are hopeful that we would expand our offerings as well as double the bed capacity in the next 12 months.”
About goStops: goStops is a Delhi based premium travel & co-living hostel chain startup. goStops leases, manages and franchises real estate assets to design, transform, market, sell, and operate youth hostels under its brand in locations where the youth travels for business or leisure. goStops’ hostels equipped with air-conditioned dorms and private rooms, 24×7 café offers facilities like mini theatre, pool table, aesthetically designed work and lounge space and many activities to socialise and explore a destination with other fellow travelers.
About Atraxn Partners: Atraxn Partners is an angel investor firm headed by Nirmal Singh & Pawan Kumar. Atraxn has invested in diversified portfolios from Fintech player Aggrepay to Media and PR firm Clarity Communication, Mumbai based Edtech company Board Infinity and Social Media company DYT.