Paytm to Acquire booking platform Nightstay for around $20m

Digital payments platform Paytm is all set to acquire last-minute hotel booking platform NightStay for around $20 million. With this acquisition, Paytm will also enter the hospitality space. The entire team of NightStay will merge with Paytm.

Paytm has been doing some monumental changes for the past few months to expand its operations and diversify its services. Earlier this month, Paytm announced Rama Subramaniam Gandhi, former deputy governor of the Reserve Bank of India (RBI), as its advisor. Paytm has also made several acquisitions in the past few months.

Paytm had acquired Chennai-based online ticketing platform Ticket New earlier this year to have a strong foothold in the ticket booking business.

In July 2017, it acquired a majority stake in, an events ticketing platform. Last month, Paytm also acquired Tiger Global and Flipkart backed Cube 26 in order to introduce more social engagement features on its application.

NightStay is a members’ only mobile app that offers attractive prices on luxury hotels across 12 cities including Delhi, Hyderabad, Mumbai, Chennai, and Bengaluru. It was founded by Nasr Khan and Deepak Negi in 2015. The startup is popular for providing last minute bookings at low rates.

In August 2015, NightStay had raised $500,000 in a seed round from Vivek Bihani of Bedrock Venture Management Pvt. Ltd, GSF founder Rajesh Sawhney, and Shailesh Vikram Singh, who was then executive director at SeedFund.


(adsbygoogle = window.adsbygoogle || []).push({});
Set your categories menu in Header builder -> Mobile -> Mobile menu element -> Show/Hide -> Choose menu
We use cookies to make Bizztor’s website a better place. Cookies help to provide a more personalized experience and relevant advertising for you, and web analytics for us. To learn more about the different cookies we're using, check out our Cookie Policy.

Top Stories In Your Inbox

Get Our Latest updates and startup Guides in Inbox every Week. Subscribe to our weekly Newsletter Now,

Free SEO Audit for your website

Please share the information below to get a free SEO Audit for your website.