Budget accommodation booking platform RedDoorz plans to use the $11 million in pre-Series B funding for rapid regional expansion.
The capital comes from past investors Asia Investment Fund of Susquehanna International Group, International Finance Corporation (the private investment arm of World Bank Group), InnoVen Capital and Jungle Ventures along with new investors that include Deep Sky Capital, FengHe Group and Hendale Capital.
Launched in 2015, RedDoorz currently has more than 500 properties across Singapore, the Philippines and Indonesia.
It consolidates the independent budget properties under the RedDoorz brand, giving hoteliers access to its online distribution system, data analytics, marketing and customer service. For travelers, it guarantees that each property adheres to standards such as free WiFi, satellite television, clean linens and free mineral water.
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