H2O Hospitality raises US$30 million in funding round

Japan: H2O Hospitality, a Japan-based vacation rental management firm, has raised US$30 million in a Series C funding round.

The lead investor for the round was Kakao Investment, with other investors including Korea Development Bank, Gorilla Private Equity, InterVest, Nice Investment, and Kejora-InterVest Growth Fund.

H2O Hospitality currently operates around 7,500 units in Tokyo, Bangkok, Seoul and Busan.

The company will use the new funding to expand in South-east Asia. One of its new investors, Kejora-InterVest Growth Fund – a joint fund between venture capital firms Kejora Ventures and Intervest – focuses on startups in the region.

The company also plans to use the fresh funds to broaden its service offerings. In 2020, it raised US$7 million in a series B funding round from Samsung Ventures, Stonebridge Ventures, IMM Investment, and Shinhan Capital.