RedDoorz to expand presence in Indonesia

Singaporean hotel management and booking platform, RedDoorz, has recently announced that it has ended a Series B funding round with $45 million. Participating investors include Indonesian media company, Media Nusantara Citra Group.

“RedDoorz has a scalable business model and a practical solution for the fast-growing online travel booking Industry, especially in South East Asia,” the MNC Group President Director David Fernando Audy continued. “We will support RedDoorz to grow the brand in Indonesia and overseas.”

Founded by Indonesian billionaire businessman and politician Hary Tanoesoedibjo in 1997, MNC is owned by Global Mediacom, which is owned by MNC Corporation. In 2011, a 7.5 percent stake was acquired by Saban Capital Group, an investment company based in Los Angeles, California, United States.

On the new strategic partnership and investment with RedDoorz, Audy said that they are delighted to have the opportunity to participate in this funding round. The MNC Group President noted, “We believe the company’s track record in the online accommodation booking and hotel management is a brilliant solution for the independent hotel owners across Indonesia and provides great value for mass market nationwide customers.”

Operating over 1,200 budget hotels and properties, RedDoorz has operations across more than 80 cities in four countries in Southeast Asia, namely Singapore, Indonesia, the Philippines and Vietnam. The Singapore-based startup intends to use the new amounts to aggressively pursue growth strategies and further increase its lead in the region’s hospitality segment.

The new round of funding is led by Chinese venture capital firm Qiming Venture Partners alongside Jungle Ventures and its network of limited partners. RedDoorz also saw continued support from Susquehanna International Group, Hendale Capital, International Finance Corporation and others.

Read more here

Join us November 12-15 for the Property Portal Watch Conference Madrid 2019.