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Aya Lin · · 1 min readIn brief: Oyo in discussions to raise $1b, valuation to hit $10b
- Oyo Hotels & Homes is in talks with new backers and existing investors like Japanese conglomerate SoftBank for US$1 billion in fresh funding, which is likely to see the startup’s valuation hit the US$10 billion mark, The Economic Times reports.
- According to sources, Oyo is amassing a war chest for more acquisitions as it expands into additional international markets. Last month, it said it would acquire Amsterdam-based vacation rental company Leisure Group in an all-cash deal for US$415 million
- If the deal goes through, it will make Oyo the most valued startup in India along with fintech company Paytm, which was valued at US$10 billion when it bagged US$300 million from Warren Buffett’s Berkshire Hathway in August 2018.
Editing by Eileen C. Ang
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