goSTOPS Secures Rs 35 Crore in Series A Funding

Youth travel hostel brand goSTOPS has successfully secured Rs 35 crore ($4.2 million) during its Series A funding round. This round was spearheaded by Blume Ventures and co-led by 1Crowd, with participation from investors like Mumbai Angels, Chennai Angels, Indian Angel Network, Lead Angels, and Yuj Ventures.

Previously, in December 2021, goSTOPS acquired $1 million in a bridge funding round, with backing from existing investors such as The Chennai Angels, Mumbai Angels, and Yuj Ventures, among others.

The fresh capital will play a crucial role in bolstering operations, improving technology, and enhancing the social and experiential dimensions of its current properties.

Moreover, the company is also in the process of finalising debt partnerships to further support its expansion efforts.

About goSTOPS

Established by Pallavi Agarwal and Pankaj Parwanda, goSTOPS is dedicated to providing vibrant, social, and design-focused accommodations tailored for the youth. Based in Delhi, the firm aims to increase its bed capacity from 2,500 to 10,000 across 100 locations within the next 24 months, targeting a substantial 4X growth.

Market Trends and Competitors

Market research indicates that 70% of young travellers now favour hostels over conventional hotels, highlighting the rising demand in this sector.

goSTOPS faces competition from similar brands such as The Hosteller, Wudstay, and Backpackers Panda. Notably, The Hosteller raised $5.7 million in its own Series A funding round in November 2024.