Hotline: 1800 102 2007
Hotline: 1800 102 2007
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 secures $70 mn funding to expand its budget hotel network in Southeast Asia

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.

sharebtn
Comment
user
email
mobile
address
star
Related opportunities
  • Sports & Gaming
    We are a team of young Sport-Enthusiasts who wants to..
    Locations looking for expansion Madhya Pradesh
    Establishment year 2013
    Franchising Launch Date 2020
    Investment size Rs. 10lac - 20lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Bhopal Madhya Pradesh
  • Ice Creams & Yogurt Parlors
    Natural Ice creams made using Fresh Milk & Seasonal Fruits..
    Locations looking for expansion Haryana
    Establishment year 2019
    Franchising Launch Date 2019
    Investment size Rs. 10lac - 20lac
    Space required 300
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Gurgaon Haryana
  • Other Vocational Training
    About Us: International School of Design has established itself in arts, design..
    Locations looking for expansion DELHI
    Establishment year 2009
    Franchising Launch Date 2012
    Investment size Rs. 10lac - 20lac
    Space required 1200
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater NEW DELHI DELHI
  • Digital Media & Internet Marketing
    Newsorb360 Is a unique platform which promote digitalisation in India..
    Locations looking for expansion Haryana
    Establishment year 2020
    Franchising Launch Date 2020
    Investment size Rs. 2lac - 5lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Faridabad Haryana
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities