Casa2 Stays Pvd Ltd, the owner and operator of FabHotels.com, an Indian budget hotel brand, secured $25m in Series B funding.
The round was led by Goldman Sachs with participation from existing investor Accel Partners.
The company intends to use the funds to further strengthen its market leadership position, brand and expansion plans.
Led by Vaibhav Aggarwal, co-founder and CEO, Casa2 Stays owns and operates FabHotels.com, a technology-driven brand whose franchise model focuses on partnering with 20 – 40 rooms capacity budget hotels. The company uses its proprietary technology platform to deliver superior yields to franchisees and assists in property operations for the delivery of stay experiences to travellers.
FabHotels currently operates over 5,000 rooms across more than 225 franchise hotels in over 20 major cities across India, including Mumbai, the National Capital Region and Bengaluru.
The company also operates a professional training academy for hotel staff and on the ground quality control teams.