goSTOPS bags Rs 35 Cr in Series A round led by Blume Ventures

Youth travel hostel brand goSTOPS has raised Rs 35 crore ($4.2 million) in its Series A round led by Blume Ventures and co-led by 1Crowd. Mumbai Angels, Chennai Angels, Indian Angel Network, Lead Angels, and Yuj Ventures, also participated in the round.

Earlier in December 2021, goSTOPS had raised $1 million in a bridge round funded by existing investors The Chennai Angels, Mumbai Angels, and Yuj Ventures, among others. 

The proceeds will be used to strengthen operations, enhance technology, and elevate the social and experiential aspects of its existing properties.

In addition, the company is also finalising debt partnerships to expand its war chest for the brand’s expansion.

Founded by Pallavi Agarwal and Pankaj Parwanda, goSTOPS offers vibrant, social, and design-led spaces for the new generation. The Delhi-based firm is set to expand its capacity from 2,500 to 10,000 beds across 100 locations in the next 24 months, achieving 4X growth. 

According to market research, 70% of young travellers now prefer hostels over traditional hotels, underscoring the growing demand for the category.

goSTOPS competes with The Hosteller, Wudstay, and Backpackers Panda, among others. In November 2024, The Hosteller raised $5.7 million in its Series A round.