Mumbai-based holiday-home management platform SaffronStays has raised $3.5 million in a funding round led by Infinity Ventures. Family offices also participated in the round.

The funding included a mix of fresh capital and a partial secondary sale by existing investor Sixth Sense Ventures.

Founded in 2015 by Tejas Parulekar and Devendra Parulekar, SaffronStays operates a managed holiday-home network across India. The company currently manages more than 450 properties in over 80 destinations.

Its portfolio includes leisure markets such as Goa, Maharashtra, Himachal Pradesh, and Kerala. Over the last two financial years, the company reported 70% inventory growth in North India and 90% growth in South India. Goa recorded the highest growth at 200% during the same period.

SaffronStays said the latest capital will support expansion into additional leisure destinations. Besides that, the company plans to invest in technology and product development to strengthen operations and customer experience.

The startup also aims to increase its managed property portfolio as demand for alternative accommodation continues to grow in India’s travel sector.

According to the company, it has remained profitable for the last four years. Premium holiday homes currently contribute more than 50% of its overall revenue.

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