Oyo closes $90 million funding round with SoftBank leading the investment

Budget hotel aggregator Oyo Rooms is done with another round of financing round, this time worth $90-million. The funding was split into two tranches, and was led by its largest shareholder SoftBank.

While $61 million have been received, the rest $29-million will be coming as a mix of equity and debt from existing investors led by SoftBank. Oyo is also picking up $5 million in debt financing from InnoVen Capital, as per TOI sources.

The budget hotel aggregator's pre-money valuation has stuck at around $400 million.

Talking of its first investor VentureNursery, it had some clashes, after which it had cashed out of the company, netting Rs 60 crore in a secondary sale of shares. A secondary sale is when an existing investor sells shares to a new one or the promoter at the company's current valuation, but the money does not come into the company.

It was only last year that Oyo had had picked up a $100-million cheque in a funding round led by SoftBank.

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