Singapore-headquartered budget hotel startup Reddoorz has raised $70 million in its Series C funding round as it looks to replicate the success of India’s OYO in Southeast Asia.
The latest capital raise for the four-year-old startup was led by Asia Partners, with participation from new investors Rakuten Capital, Mirae Asset-Naver Asia Growth Fund, and certain existing investors.
Monday's Series C funding comes just four months after its $45 millon Series B round in April, which was led by Qiming Venture Partners. Reddoorz has now raised $140 million since it was founded in 2015.
As well as being a hotel booking and management platform, Reddoorz...