Oyo Hotels & Homes seems set to close its $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 $810 million through SoftBank Vision Fund India Holdings (Cayman), Ritesh Agarwal-led RA Hospitality Holdings is putting in about $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 $1.5 billion in fresh financing round of which $700 million will be invested by founder Ritesh Agarwal through RA Hospitality. The remainder of the funds amounting to $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 $1.7 billion in funding, according to data from Crunchbase. Founded in 2013, Oyo’s current portfolio combines fully operated real estate comprising more than 23,000 hotels and 46,000 vacation homes.
