Treebo Hotels raises Rs 10 cr from angel investors

Treebo Hotels on Tuesday said it has raised Rs 10 crore from a group of angel investors including Paytm Founder & CEO Vijay Shekhar Sharma, Rebel Foods Co-founder & CEO Jaydeep Barman and Mozambique Holdings MD Deepak Parayanken. This investment comes close on the heels of the company raising Rs 45 crore recently from existing investors, Treebo Hotels said in a statement.

"As investors in the hospitality and real estate space ourselves, we understand the role that technology and a good brand play in the success of any hospitality business. Treebo has developed strong capabilities in both these areas," Parayanken said. Treebo Hotels Co-founder Sidharth Gupta said the belief demonstrated by these investors in the company "despite the current challenging times is precious for us." They are taking a bet on the long-term prospects and the strong fundamentals of the business, which is hugely encouraging, he added.

Currently, Treebo Hotels has a portfolio of over 600 hotels in more than 100 cities.

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