Singapore hotel industry startup RedDoorz completes US million (S million) Series C financing。so far，The 188bet login has raised approximately 1.USD 400 million。

A significant portion of the latest funds raised will be used to establish a second technology center in Vietnam，This will complement RedDoorz’s current regional technology center in India。It also intends to enhance hotel staff and quality training programs within its hotels。

RedDoorz founder and CEO Amit Saberwal said，These funds will also be used to improve the brand’s presence in existing markets。He said，Vietnam is the 188bet login’s latest market，Entered the country in July last year，About 10% of its business。Vietnam’s new hub will become its ASEAN center，This will allow the 188bet login to further localize its operations。

he added，Developing the 188bet login’s technology，Includes AI-based pricing engine，Important to the 188bet login’s continued development，Because they know budget hospitality space cannot depend on people。

The startup’s Series C round was led by Singapore-based growth equity investment firm Asia Partners，The 188bet login launched in June。

Other participants include new investor Rakuten Capital，The corporate venture capital arm of Japanese giant Rakuten Group，and Mirae Asset-Naver Asia Growth Fund，This is a joint venture between Seoul-based Mirae Financial Group and internet giant Naver Corporation。

Existing investors Qiming Venture Partners and the International Finance Corporation, the private investment arm of the World Bank Group, also participated in the financing。

"By the end of this year，We would like to have 2,000 hotels and 1 million room accommodations，"Saberwal said。The 188bet login currently has 1,400 hotels - including franchises and direct rentals - as of July，Their check-in time is approximately 520,000 rooms。

He said，The 188bet login doubles its business every six months，And noted that RedDoorz occupied approximately 125 in July 2018,000 rooms，About 250,000 last December。

Saberwal said，The 188bet login is looking at countries such as Thailand and Malaysia，And added: “Everywhere in Southeast Asia is our playground”。

He said，188bet login unlikely to enter Europe or China，Because the 188bet login is not familiar with these markets。

“You must know your market，Know where you can play，This is part of our secret，” he added。

RedDoorz will continue to focus on its existing target customer base of domestic travelers – the “Road Warriors，Young crowd looking for functional accommodation” – their main goal at the moment is to increase their customer base and maintain their loyalty，Even if they become more he points out，Affluent and looking for higher quality accommodation。

Although the 188bet login is currently not profitable，But Mr. Saberwal said: “Now is not the time to think about profit stability，Now is the time to look at growth，But we are always within a profitable distance。”

Although the 188bet login’s goal is to make profits，But it is currently focused on growth and expansion。

He believes the 188bet login’s execution is a key factor in its growth to date。“We are not building an airy fairy concept，We are building a real operational problem，And move towards this goal。”

RedDoorz is the first 188bet login in the Asian partnership portfolio，Its co-founders include Mr. Nicholas Nash and Mr. Oliver Rippel, the former group president of gaming and e-commerce 188bet login Sea，He is a former senior executive at South Africa-based internet 188bet login and technology investor Naspers。

“Our team has a unique combination of investment and operational skills，Can help companies like RedDoorz become true market leaders，" Mr Rippel and Mr Nash said in a statement。

“We have full confidence in the team’s ability to seize the huge opportunity that exists in the affordable travel industry。”

RedDoorz was established in 2015，Currently in Indonesia，Singapore，Business in 80 cities in Vietnam and Philippines。Except operating a budget hotel booking platform，It also directly operates and leases hotels。its first direct rental property，A shop on East Coast Road，Launched last March。

Whose investors include 500 Startups，Jungle Ventures and Susquehanna International Group’s Asia Investment Fund。

*Source of this article: Oriental Entrepreneur, original title: "Hospitality startup RedDoorz raises 188bet login to fuel technology development and training programs》