Zen Rooms Raises $4.1m Funding From South Korean Venture Capital Firms
Jakarta. Zen Rooms, a budget accommodation booking platform, raised $4.1 million in Series A funding from several South Korean venture capital firms as the company looks to expand operations throughout Asia, a spokesman announced on Wednesday (12/04).
Zen Rooms is a hotel booking platform for budget travelers. Founded in 2015 by digital giant Rocket Internet, the startup provides accommodation bookings and has set an industry standard for cost efficiency.
The company currently operates in eight countries, including Indonesia, Thailand, Singapore, Hong Kong, the Philippines, Malaysia, Sri Lanka and Brazil.
"This round of funding is an important milestone to consolidate our early leadership and launch more features to modernize temporary budget accommodation in Southeast Asia," Kiren Tanna, Zen Rooms co-founder and global managing director, said in a statement.
Zen Rooms, which has secured a total of $8 million in funding, has partnered with thousands of independent budget accommodation providers — hotels, guest houses, bed and breakfasts and apartments — that meet the startup's strict quality standards.
Seoul-based venture capital firm Redbadge Pacific, private equity firm SBI Investment Korea and Asia Pacific Internet Group (APACIG) — a joint-venture of Rocket Internet and telecoms provider Ooredoo — invested substantial funds in the startup.
Using its online booking service, Zen Rooms customers can choose from a variety of rooms that come standard with a double bed, flat-screen TV, in-room shower, air conditioner and WiFi connection.
Fully equipped double rooms can start as low as $10, cheaper than most other online booking sites.
Currently, the startup also has a self check-in kiosk at select partner hotels, allowing customers quick and easy payment schemes.
Zen Rooms has recently teamed up with Malaysian low-cost carrier AirAsia and ride-hailing app Uber to expand its customer base.
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