RedDoorz raises $45 M for expansion in SE Asia

MANILA, Philippines — RedDoorz, Southeast Asia’s largest and fastest-growing hotel management and booking platform, successfully raised $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 fresh capital to aggressively pursue growth strategies and further increase its lead in the region’s hospitality segment. 

In the Philippines, RedDoorz accumulated over 150 properties in over 10 cities within just one year of operation. Besides Metro Manila, Cebu, Pampanga, Tagaytay and Davao, new areas have been opened up in Bacolod, Iloilo, Palawan and Baguio, with over three million customers served.

RedDoorz has also recently announced that it is on track to achieve one million occupied room nights per month by year-end. As of last month, it is growing five times year-on-year and has already reached 500,000 occupied room nights, an industry-first in Southeast Asia’s travel and hospitality category.

Amit Saberwal, founder and CEO of RedDoorz, said: “Our growth in 2018-2019 has been exponential. It has been such an important period for us as we were able to set the pace and establish new industry benchmarks in the affordable hospitality segment in Southeast Asia. We are still deeply committed to our vision of empowering the local hospitality owners and connecting them with a growing base of customers who are using our platform to discover new destinations and travel more. The journey is just beginning for us and we are very excited about becoming the go-to-choice for quality, predictable and standardized accommodations in the region.”