Local travel start-up Triply bags Sh65.8m funding from Y Combinator

Triply co-founders Peter Wachira (left) and Collins Muthinja. PHOTO | COURTESY

Local travel tech start-up Triply.co has received a major boost after it bagged $500,000 (Sh65.8 million) in funding from start-up accelerator Y Combinator to power its next phase of growth.

The funding makes Triply.co the accelerator’s first-ever travel tech investment in Africa, propelling the local firm to join the ranks of Nigerian fintech companies Flutterwave and Paystack, which have also received financing from Y Combinator.

Other global brands that have previously bagged funding from the accelerator include Airbnb, Dropbox and Reddit.

Co-founded in 2021 by Peter Wachira and Collins Muthinja, Triply.co aids travel businesses in collecting payments and automating their operations, as well as in advertising the businesses on its marketplace in an attempt to bridge the needs gap in the local travel market.

The start-up runs an innovative model that provides solutions to various travel stakeholders including tour operators, transport players, accommodation providers as well as experience providers, allowing businesses to streamline their operations and travellers to find and book their services online.

“This investment not only cements our position as the go-to solution for businesses and travellers but it also allows us to build solutions that Kenyan and African markets really need," said Mr Wachira, the chief operating officer.

The firm says it will channel the investments towards developing new products, expanding operations and inking partnerships with others in the travel industry.

“Using technology and data, Triply.co aims to give Kenyan businesses and travellers the tools they need for seamless travel experiences,” said the start-up in a statement.

Dubbed Harvard for startups, Y Combinator is a worldwide accelerator with a one percent acceptance rate. Newbies under the programme have a combined value of $600 billion (Sh78.9 trillion).

PAYE Tax Calculator

Note: The results are not exact but very close to the actual.