OYO, a New Dheli, India-based platform that connects entrepreneurs and small businesses with hotels and homes, raised $660M in TLB funding.
TLB refers to a tranche of senior secured syndicated credit facility from global institutional investors.
The company intends to use the funds to retire its past debts, strengthen the balance sheet and for other business purposes including investment in product technology.
OYO is a global platform that empowers entrepreneurs and small businesses with hotels and homes by providing full-stack technology that increases earnings and eases operations bringing accommodation to guests around the world. The company is present in India, Europe, and Southeast Asia, US, and other 80 countries.