FabHotels, a budget hotel brand, is likely to raise nearly Rs 40 crore in a Series B2 round from its existing investors United States-based Goldman Sachs, Accel and Singapore’s RB Investments. The company was founded by Vaibhav Aggarwal and Adarsh Manpuria in 2014.
Earlier, it had raised $7.8 mn from Goldman Sachs & Others.
The company will utilize these funds in business expansion and growth.
FabHotels is a hotel booking platform which operates through franchising arrangements with budget hotels across India. It operates more than 600 hotels in 50+ Indian cities.
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