OYO (Oravel Stays Limited), a leading global short-stay accommodation platform, has received funding from Khazanah National Berhad (Khazanah). Khazanah has purchased the stake from a set of early investors. Over the past six months, the company has secured over USD 250 million in primary and secondary capital from prominent institutional investors and renowned family offices.
Avendus Capital acted as the exclusive financial advisor to OYO and its shareholders on the investment by Khazanah Nasional Berhad.
OYO, a global leader in hospitality technology, has revolutionized the travel experience by partnering with over 180K hotels and homes worldwide. As the exclusive revenue management and brand partner for these properties, OYO empowers customers to book high-quality, affordable stays with ease. With a commanding presence in more than 35 countries, OYO is leading key markets in India, Europe (Homes), US, Indonesia and Malaysia. The company's ongoing growth is highlighted by its robust financial performance, positioning it as one of the top EBITDA-generating companies in the Indian consumer tech space and reinforcing its leadership in the global hospitality industry.
Neeraj Shrimali, Managing Director and Co-Head, Digital and Technology Investment Banking at Avendus Capital said, “We are thrilled to collaborate with Ritesh and OYO, one of the largest new-age tech platforms revolutionizing the short-stay accommodation industry worldwide. The heightened investment activity, coupled with backing from Khazanah and other large institutional investors and family offices, further highlights OYO's robust execution and the significant opportunities ahead. As one of India's most profitable consumer tech start-ups, with strong growth momentum and a distinctive global delivery model, OYO is exceptionally well-positioned to expand its share of the global hospitality market in the coming years.”
About Avendus
Avendus Group is a leading financial services firm with a presence in the areas of Investment Banking, Institutional Equities, Wealth Management, Credit Solutions and Asset Management. Established in 1999 in Mumbai, India, Avendus is today present in 10 cities across India, US and Singapore. Avendus partners with the Indian entrepreneur ecosystem to provide differentiated solutions that enable clients to meet their strategic aspirations.
Avendus Capital, the investment banking arm, is consistently ranked among the top investment banks in the country on the back of its in-depth domain understanding and a best-in-class track record of domestic and cross-border transactions. Avendus’ wide range of clients is testimony to its ability to serve its corporates throughout their life cycle – from growth stage funding to large-sized transactions, M&A advisory and access to public markets.
Avendus Capital Inc., New York and Avendus Pte Ltd., Singapore are both Avendus Group entities offering services to clients in the US and Southeast Asia respectively.
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