Hospitality startup RedDoorz raises US$45 million to cement its leadership position in Southeast Asia
The Series B funds will be used to accelerate growth in the region’s affordable accommodation segment Singapore, 29 July 2019 – RedDoorz, Southeast Asia’s largest and fastest-growing hotel management and booking platform, announced today the successful fundraise of US$45 million in a Series B round. The Singapore-based startup has operations across more than 80 cities in four countries in Southeast Asia, namely Singapore, Indonesia, the Philippines and Vietnam and operates more than 1,200 budget hotels and properties. The new round of funding was led by Chinese venture capital firm Qiming Venture Partners alongside Jungle Ventures and its network of limited partners. The round also includes new investors MNC Group (the leading media company in Indonesia) and saw continued support from Susquehanna International Group, Hendale Capital, International Finance Corporation and others. The company intends to use the new amounts to aggressively pursue growth strategies and