RedDoorz Secures USD70 Million Series C Round Led by Asia Partners
Posted On: 19 Aug 2019 | Source: e27 | Author(s): Anisa Menur A. Maulani
Singapore-based hotel management and booking business RedDoorz has raised USD70 million in a Series C funding round led by Southeast Asia-focused private equity firm Asia Partners. Other participants in the round include Asia-focused venture capital firm Qiming Venture Partners, development finance institution IFC, the venture capital arm of Japan-based internet company Rakuten, and Mirae Asset-Naver Asia Growth Fund, an investment vehicle established by global asset manager Mirae Asset Global Investments and Korea-based internet conglomerate Naver. RedDoorz operates hotel properties in Southeast Asia and an online booking platform run from its engineering center in India. It plans to use the new capital to launch in new markets, scale its technology, develop customer experience projects, improve marketing, grow its hotel staff, and set up a second engineering hub in Vietnam.