Zen Rooms secures US$15mn funding from South Korea’s Yanolja

South Korean accommodation platform Yanolja has invested US$15 million for a “significant” stake in Zen Rooms, with the right to acquire the South-east Asian budget hotel chain and online booking platform in full.

Founded in 2015 by former Foodpanda co-founder Kiren Tanna and Nathan Boublil, Zen Rooms said it is distinct from other hotel franchises in the segment in that it is vertically integrated, combining room booking, branding, sales and management with a self-developed online/mobile.

The company has presence in five South-east Asian countries: Indonesia, Malaysia, the Philippines, Singapore, and Thailand. Within three years, Zen Rooms said its business has grown to over 1,000 economy hotel franchisees and over 7,000-room inventory.

Zen Rooms plans to use the capital to expand its inventory base in current and new markets and continue to invest in technology.

For Yanolja, the investment marks its foray beyond South Korea and into the fast growing South-east Asian region.

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