Indian Hospitality Startup Treebo Hotels Closes $34 Million

Treebo Hotels announced it has secured $34 million in Series C financing. Ward Ferry Management, Karst Peak Capital, SAIF Partners, Matrix Partners, and Bertelsmann India Investments participated in the funding.

Founded in 2015, Treebo is a new hotel brand that offers comfortable stays at budget prices. Treebo derives its name from “Bo Tree”, the fig tree under which Gautam Buddha attained enlightenment. Treebo provides quality assurance through a program that compensates guests who are not happy, a first of its kind in India and a novelty in the budget hotel category. The company currently has more than 100 hotels across 54 locations in India.

The company revealed that Treebo plans to invest the new capital in improving its customer experience, marketing, and technology.