Oyo Rooms plans to tap venture debt route for fresh funding
15 March 2019 3:03 AM IST
Oyo Rooms is in talks with several debt firms and private banks to raise several hundreds of crores in debt financing.Oyo Rooms plans to use debt financing to buy properties for Oyo Townhouse, earmarks equity funds for overseas expansion
- Hospitality startup Oyo Rooms (Oravel Stays Pvt. Ltd) plans to tap the venture debt route to raise fresh funds as it seeks to double down on its Townhouse property vertical in India this year.
- The company, which recently raised $1 billion in equity , is in talks with several venture debt firms and some of the top private banks to raise several hundred crores in debt financing, said three people familiar with the matter.
- The idea is to use the funds to buy properties for Oyo Townhouse, as the company looks to deploy its recently-raised equity for overseas expansion , they said.
- Townhouse properties, owned and fully managed by Oyo, have played a key role in improving the startup’s image with customers.
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