Private Equity

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FabHotels raises $20-M to scale business travel and expense mgmt platform

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Gurugram-based Casa2 Stays, the parent firm of budget hotels aggregator FabHotels.com, has raised USD 20 million from new and existing backers to scale its new vertical TravelPlus, a business travel and expense management platform. FabHotels claims to have tied up with more than 350 companies including Spinny, SpiceJet, Byju's, Ninjacart, Zomato, and PolicyBazaar to provide solutions for hotel bookings across India. The firm has hired a separate team of about 120 employees for the vertical in the past few months.

From the Venture Intelligence PE-VC Deal Database: Between Jul 2017 and Dec 2019, FabHotels.com had raised $48 M from 6 investors. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)