Budget hotel aggregator Treebo Hotels, operated by Ruptub Solutions Pvt. Ltd, has appointed former Amazon.com Inc. executive Pradeep Sriram as its head of finance.
Sriram will lead all commercial, accounting, tax, compliance, receivables and payables-related activities, the startup said in a statement.
Treebo co-founder Sidharth Gupta said the appointment is significant as the company is looking to achieve operational profitability over the next 18 to 24 months.
Sriram was previously involved in designing and implementing process- and technology-related initiatives within the finance function at Amazon. Prior to Amazon, the chartered accountant worked with Wipro Ltd and United Spirits Ltd.
Treebo was founded in 2015 by former McKinsey consultants Gupta and Rahul Chaudhary and former MyGola executive Kadam Jeet Jain. The company claims it operates in 50 cities and has 250 partner hotels with an inventory of 6,000 rooms.
Earlier this year, Gupta told VCCircle the company planned to expand the number of properties to 600 by the end of 2017 and 1,200-1,300 next year.
The Bangalore-based hotel chain operator had raised Rs 112 crore ($16.7 million) last year in its Series B funding round that was led by Bertelsmann India Investments, the strategic investment vehicle of international media company Bertelsmann.
Existing investors SAIF Partners and Matrix Partners India also took part in the round. In 2015, it had raised $6 million in its Series A round of funding co-led by Matrix and SAIF.
[Source:-vccircle]
