INSUBCONTINENT EXCLUSIVE:
has raised $8.7 million in a new round of funding, according to the company.Led by Kaszek Ventures, the round will support the continued
The hotel operator already has 150 hotels operating under its flag in Colombia and has recently expanded to Peru, according to a
statement.Financing came from Kaszek Ventures and strategic investors like Irelandia Aviation, Kairos, Altabix and BWG Ventures.The company,
which was founded in 2018, now has more than 4,500 rooms under its brand in Colombia and has become the biggest hotel chain in the
country.Investments in brick and mortar chains by venture firms are far more common in emerging markets than they are in North America
The investment in Ayenda mirrors big bets that SoftBank Group has made in the Indian hotel chain Oyo and an investment made by Tencent,
independent hotels through a franchise system to help them increase their occupancy and services
companies looking at expanding via venture investment for hotel chains
The once high-flying company has been the subject of some scathing criticism
The NYT wrote that Oyo offers unlicensed rooms and has bribed police officials to deter trouble, among other toxic practices.Whether Oyo,
