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In2Nite, a last-minute hotel booking app, raises $2.8 million to expand throughout Asia

April 21, 2014

Competition is fierce between Singapore’s rival last-minute hotel booking apps, In2Nite and HotelQuickly. Fast expanding throughout Asia, the companies have announced funding rounds just months apart from one another. In2Nite recently closed its latest round worth US$2.8 million, and it is led by IDG Ventures and other undisclosed strategic investors.

HotelQuickly, meanwhile, raised $1.16 million in September 2013. In2Nite is available in six countries, namely Singapore, Malaysia, Indonesia, Thailand, Vietnam and Hong Kong. It will continue to expand to the rest of Asia.

In2Nite is tapping on growing demand for last minute room bookings by helping hotels reduce unsold inventory. The company is led by CEO and founder Arne Dettki.

IDG Ventures is a global entity of five locally-managed funds in China, Vietnam, India, Korea, and the United States. It is managing a total of $3.7 billion, and has invested in companies such as Baidu and Tencent in China, as well as VNG in Vietnam.

IDG Ventures Vietnam venture partner Frederic de Bure will join In2Nite’s board. More information to come.

Source: http://www.techinasia.com/in2nite-lastminute-hotel-booking-app-raises-28m-expand-asia/