OYO partnered with Biz2Credit, an online financing resource for small businesses, to provide working capital and commercial real estate loans to existing and potential hotel partners across the US.
The partnership with Biz2Credit will aid its efforts to provide hotel owners with fast financing efficiently for a wide range of purposes, including renovation, redesign, infrastructure upgrade and investment in technology for improved revenue management and operations.
“We are excited about partnering with Biz2Credit to support our asset partners across the United States, with their financing requirements,” said Abhinav Sinha, Chief Operating Officer and Operating Partner, OYO Hotels & Homes, USA. “Biz2Credit is one of the best known, longest established and most successful companies in the FinTech space. They are an important strategic partner for OYO as we pursue our expansion plans in the U.S. and elsewhere while staying true to our commitment to our real estate partners by putting skin in the game. We are certain that through this partnership, our asset partners will be able to benefit from OYO’s tech-enabled and data science-backed world-class expertise in interior design and renovations and revenue management.”
A pioneer in the FinTech industry, Biz2Credit uses the latest technology to connect small business owners with financing options based on each potential customer’s unique business profile. All transactions are conducted in a safe, efficient, and price-transparent environment that’s fully online.
“This will be a mutual referral agreement in which Biz2Credit will also refer its hotel clients to OYO for potentially opening new OYO properties,” said Rohit Arora, Biz2Credit’s CEO and one of the country’s top experts in small business financing and FinTech. “We are proud to partner with a growing global hospitality company that has brought its successful business model to the real estate owners across the United States. Biz2Credit helps streamline the financing process and saves time, effort, and cost in order to get business owners the best financing options available today.”
OYO, as the world’s third-largest hotel chain, is using technology, business expertise and talent to create beautifully designed, chic and comfortable living spaces. The company has attracted some of the world’s leading investors, including Airbnb, SoftBank Vision Fund, Greenoak Capital, Sequoia Capital, and Hero Enterprise. When 19-year-old Ritesh Agarwal founded OYO, he couldn’t have imagined it would be the world’s fastest-growing hotel chain only six years later. That success in the U.S. and across the world led Agarwal to sign a $2 billion primary and secondary management investment round, allowing him to increase his stake in the business.