Hotline: 1800 102 2007
X
Search Business Opportunities
Aug, 23 2019

RedDoorz secures $70 mn funding to expand its budget hotel network in Southeast Asia

The fresh funds will be used by the company to launch in new markets and scale technology, customer experience projects, people and marketing investments to further boost its leadership position in the Southeast Asia region.

RedDoorz, hotel management and booking platform, has secured $70 million in its latest round of funding led by a Singapore-based growth equity firm, Asia Partners.

The round has been joined by Rakuten Capital and Mirae Asset-Naver Asia Growth Fund. The existing investors of the company, including Qiming Venture Partners and International Finance Corporation (IFC), also participated in the round.

The fresh funds will be used by the company to launch in new markets and scale technology, customer experience projects, people and marketing investments to further boost its leadership position in the Southeast Asia region.

Amit Saberwal, Founder and Chief Executive, RedDoorz, said, “We are thrilled to welcome a new group of seasoned investors joining us in our mission to build the leading tech-enabled affordable travel brand in Southeast Asia. RedDoorz operates in some of the most dynamic markets in the world and we see tremendous opportunities to continue growing our platform and expanding into new markets.”

“We believe we are on the right track to create the next tech unicorn in Southeast Asia,” he added.

RedDoorz ties up with budget hotel owners, providing them technology software and standardised supplies. The company also trains their staff on hospitality etiquettes. It splits the revenue generated with the hotel owner.

Comment
image
Related opportunities
  • About Us: Attitude is a distinguished brand name that has carved..
    Locations looking for expansion Maharashtra
    Establishment year 1986
    Franchising Launch Date 2017
    Investment size Rs. 5lac - 10lac
    Space required 450
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Malad west Maharashtra
  • Others Food Service
    About Us : Homely Cafe & Restaurant plating European-style dishes as..
    Locations looking for expansion Maharashtra
    Establishment year 2012
    Franchising Launch Date 2018
    Investment size Rs. 50lac - 1 Cr.
    Space required 1500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • Laundry & Dry Cleaning
    About U Clean: At UClean, we are building India's first organized..
    Locations looking for expansion New Delhi
    Establishment year 2016
    Franchising Launch Date 2016
    Investment size Rs. 10lac - 20lac
    Space required 350
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater South Delhi New Delhi
  • Education Supplies
    About Us: E SCHOOL is an IELTS education institute, providing coaching..
    Locations looking for expansion PUNJAB
    Establishment year 2008
    Franchising Launch Date 2018
    Investment size Rs. 50lac - 1 Cr.
    Space required 3500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater BATHINDA PUNJAB
Insta-Subscribe to
Entrepreneur
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities