RedDoorz, a Singapore born budget hotel booking app is one of the fastest-growing startups in the world. With the direct competition with Oyo, the company is working on sustaining and growing the number of investors in their project. As per the latest updates from various reliable sources, on Monday, RedDoorz announced the good news of raising $70 million in series C financing right after getting the $45 million Series B funding.
This startup Hotel booking app has been winning the hearts of thousands and thousands of people since its launch. To date, this startup has successfully raised $140 million and is still expecting to grow more.
Founder & CEO of RedDoorz, Amit Saberwal stated that the increasing interest of investors in the company has opened the idea of expansion. They mentioned that this new funding will help them fight the aggressively growing app – “Oyo”, a brand supported by Softbank. Oyo is currently operating in 80+ countries and is still expanding.
Saberwal states that he is not intimidated by the growth of Oyo in fact, he mentioned that the success of Oyo is the testament that the industry has a huge opportunity for other players as well.
After receiving the funding of $70 million, the company has finally decided to expand its services to Southeast Asia. This company is focused on the two-star, three-star & budget hotels. Presently, the app is working with 1,400 hotels and is expanding every minute. As per their expectation by the next year, they intend to grow their network to 2000.
Saberwal when asked about their future plans with this hotel booking app stated –
“Anything in the accommodation is our playground. We have all kinds of properties. We have three-star hotels, some hostels, so we will continue to go deeper and wider moving forward,”
Adding on to the ideas, they also have plans to go into broadening the tech infrastructure of RedDoorz, a hotel booking app by adding the new engineering hub in Vietnam.
It seems that ResdDrooz is all set to expand and make a mark in the market with the help of new funding of $70 million. Stay tuned to check more on the mobile hotel booking apps.