Digital payment major Paytm is planning to invest INR 250cr to boost its travel business. This plan is also to set new business verticals and scale up their technology and product line too. It has sold over 100 million tickets in just three years span.

Abhishek Rajan, Senior Vive President, Paytm said “We continue to witness strong growth in tier 2 and 3 cities , which accounts for over

65 per cent of our new customers. This investment will help us further boost our position as a dominant player in the travel booking space.”

The company targets to show 100 percent growth in this year. It is also looking forward to sell more than six million travel tickets every month.

Paytm claims to have 15 million customer base and it’s annual Gross Merchandise value is reported to be USD 1 billion. With all the thriving factors Paytm has turned to be one of the leading online ticket booking platform in India.

The company has brought many innovative services like low cancellation cost, instant refunds and zero cancellation fees for some cases.

“Our users have saved more than 60cr from the free cancellation feature on flight and bus ticket bookings,”said Rajan.