oyo ritesh e1565801105593

Hospitality firm OYO Hotels and Homes on Monday said it will raise USD 1.5 billion as part of a latest round of funding which will be utilised for expansion in the US and strengthen its vacation rentals business in Europe.

As part of a Series-F funding, RA Hospitality Holdings will infuse approximately USD 700 million as primary capital in the company, with the balance USD 800 million being supplemented by other existing investors, OYO Hotels and Homes said in a statement.

A significant part of the funds will be diverted towards continued growth in OYO’s fastest-growing market – the United States, and in strengthening the company’s position in the vacation rentals business in Europe, it added.

OYO Hotels and Homes Founder and CEO (Global) Ritesh Agarwal said the company has the continued support of its investors like Softbank Vision Fund, Lightspeed and Sequoia Capital to its commitment of “making #LivingTheGoodLife a reality for over 3.2 billion middle-income people around the world”.

“With the Competition Commission of India (CCI) approval now in place, the company will get a capital infusion of approximately USD 1.5 billion for this mission, supported by me and other shareholders,” he added. PTI AKT RKL

Like this content? Sign up for our daily newsletter to get latest updates.

RELATED READING  SucSEED Invests in P2P Lending Startup i2iFunding through Follow-on Funding

Fintech Startup InCred Raising Funds by Issuing Market-Linked Debenture Worth Rs. 100 Cr

Previous article

Cash Discounting Platform Xpedize Joins MonetaGo’s Blockchain based Anti-Fraud Network

Next article



This site uses Akismet to reduce spam. Learn how your comment data is processed.

You may also like