OYO Secures $50 Million in Funding to Expand Global Hospitality Empowerment Platform

OYO, a global platform providing affordable and trusted accommodation around the world, has successfully raised $50 million in funding. The company, founded by Ritesh Agarwal, offers over 40 integrated products and solutions to empower entrepreneurs and small businesses in the hospitality industry. With a presence in more than 35 countries, including India, Europe, and Southeast Asia, OYO operates a unique business model that helps transform unbranded and underutilized properties into branded, digitally-enabled storefronts. The funding will be utilized to further enhance OYO's full-stack technology suite, which includes digital sign-up, revenue management, and daily business management tools. Moreover, it will assist in expanding OYO's reach and improving customer experience through its app, which offers seamless booking, pre-stay assistance, and post-stay services. With over 100 million downloads and a loyalty program boasting 9.2 million members, OYO continues to revolutionize the hospitality sector and provide high-quality accommodation options to its patrons.