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Oyo Hotels set to close USD 1.5 billion funding round led by SoftBank

Monday, November 25, 2019, 15:17 Hrs  [IST]
HBI Staff | Mumbai

According to The Financial Express, Oyo Hotels & Homes seems set to close its USD 1.5-billion Series-F financing round led by SoftBank. According to business signals platform Paper.vc, the Gurgaon-based company has recently filed documents with RoC indicating the firm’s board approval for the same.

While SoftBank is investing USD 810 million through Soft-Bank Vision Fund India Holdings (Cayman), Ritesh Agarwal-led RA Hospitality Holdings is putting in about USD 693 million, according to documents sourced from Paper.vc.There is also the possibility of investment by a third-party investor, analysts at the firm said. “The fund allotment may have happened or is imminent,” said Vivek Durai, founder at Paper.vc.

In October, Oyo had said it will raise USD 1.5 billion in fresh financing round of which USD 700 million will be invested by founder Ritesh Agarwal through RA Hospitality. The remainder of the funds amounting to USD 800 million will be invested by the company’s existing investors, it said in a statement. Bulk of the funding will be used to expand its business in the US. Excluding the Series-F round, Oyo has so far raised close to USD1.7 billion in funding, according to data from Crunch base. Founded in 2013, Oyo’s current portfolio combines fully operated real estate comprising more than 2 3,000 hotels and 46,000 vacation homes.

 
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