RedDoorz is aiming for new markets and will invest in a number of other areas of the business after securing another sizeable double-digit funding round.
The Singapore-based company, which acts as a platform to distribute budget accommodation online, has banked a $70 million investment round.
The Series C capital injection comes swiftly on the back of a $45 million Series B round, announced at the end of July this year but secured in April.
A further top-up investment to the Series C is also expected, the company claims.
It has now brought in just short of $145 million over the course of seven rounds since 2015.
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The new backers are Asia Partners, which led the round, with Rakuten Capital and Mirae Asset-Naver Asia Growth Fund.
Qiming Venture Partners, which led the $45 million round earlier this year, has returned to participate in the Series C, alongside International Finance Corporation.
New markets is a key tenet of its strategy following the investments this year, with technology development, marketing and staff hires also getting some attention.
Founded in 2015, RedDoorz has operations in more than 80 cities in Singapore, Indonesia, the Philippines and Vietnam and operates more than 1,200 budget hotels and properties.
Amit Saberwal, founder and CEO of RedDoorz, says: "This new round is a testament to our strong business growth and market leadership position we were able to build during the last few years.
"RedDoorz operates in some of the most dynamic markets in the world and we see tremendous opportunities to continue growing our platform and expanding into new markets."