The Bengaluru-based online train ticket booking and discover platform, Confirmtkt has reported net revenue of Rs 4.7 crore in FY 2018-19 as compared to that of Rs 89.84 lakhs for FY 2017-18.
The company was launched in March 2018 and has an annual turnover of Rs 93 crores. It caters to its service in seven regional languages except for English i.e. Hindi, Tamil, Telugu, Kannada, Bengali, Marathi, and Malayalam.
“FY 2018-2019 was an important turning point for us in terms of reaching new milestones. We registered robust growth after our successful pivot from information only platform to transactional platform following the launch of train ticket booking feature. This year we are anticipating a 4x growth in terms of revenues and we are on track for this,” Dinesh Kumar Kotha, Co-founder & CEO, Confirmtkt, said.
“The train ticketing market is gaining momentum with the privatization of trains and the entry of bigger players into the market. India’s train market can soon be compared to the European train market where the trains are run by multiple private players. Privatization will present new growth opportunities for startups like us and help us provide better customer experience. We plan to complete 5x of current monthly booking traction of 5,30,000 tickets in the next 18 months,” he added.
In the next 18 months, the company aims to expand horizontally by offering multiple services to railway commuters which will make their travel hassle-free. He also said, to fuel this expansion we are already in talks to raise USD 10 Mn series – a funding round.
The company is also planning to launch a train booking feature which will be a multilingual voice-based for the new internet users belonging to non-metros.