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Singapore hotel startup Reddoorz raises $70m

Singapore-headquartered budget hotel startup has raised $70 million in its Series C funding. It aims to become a leading franchise for two-star hotels in Southeast Asia.

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...

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