RedDoorz brings in US$28.2 million after becoming cash flow positive in Q4 2023
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SINGAPORE-BASED RedDoorz has secured US$28.2 million from returning investors Asia Partners and Mirae Asset Venture Investment, among others, according to Alternatives.pe, which tracks regulatory filings in the city-state.
The hospitality firm did not confirm the raise in a comment, but founder and CEO Amit Saberwal told Tech in Asia that as a series C company, “our internal investors supported us through Covid till where we are today – achieving group cash flow positive”. The milestone, Saberwal shared in an e-mail, was attained at the group level in the fourth quarter of last year.
Without giving specific figures, Saberwal added that being cash flow positive props RedDoorz up for profitability and self-sufficiency in 2024.
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