OYO & Biz2Credit Partners to Offer Small Business Financing Options to Asset Partners
World’s third-largest and fastest-growing chain of hotels, homes and spaces, OYO join hands with Biz2Credit, one of the leading online financing resources for small businesses, to offer working capital and commercial real estate loans to existing and potential hotel partners. The partnership will enable Biz2Credit to start from the US market and help provide hotel owners with fast financing efficiently for a wide range of purposes, which includes renovation, redesign, infrastructure upgrade and investment in technology for better revenue management and operations.
Abhinav Sinha, Operating Partner & COO, OYO Hotels & Homes, USA, comments, “We are excited about partnering with Biz2Credit to support our asset partners across the United States, with their financing requirements. 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”.
Being a pioneer in FinTech industry, Biz2Credit connects with the small business owners with financing options based on customer’s unique business profile using the latest technology. However, all the transactions made are conducted in a safe, efficient and price-transparent environment that’s completely online.
Commenting on the partnership, Rohit Arora, CEO, Biz2Credit, says, “This will be a mutual referral agreement in which Biz2Credit will also refer its hotel clients to OYO for potentially opening new OYO properties. We are proud to partner with a growing global hospitality company that has brought its successful business model to the real estate owners across many countries. Biz2Credit helps streamline the financing process and saves time, effort, and cost in order to get business owners the best financing options available today”.
Founded in 2013, OYO aims to transform the hospitality industry globally with the diverse offerings and constantly innovating to combine hospitality with cutting-edge technology. It has some leading investors including Airbnb, SoftBank Vision Fund, Greenoak Capital, Sequoia Capital and Hero Enterprise. It has operated real estate that comprises of more than 23,000 hotels and 125,000 vacation homes.
Established in 2007, Biz2Credit has operations in four large global markets, the United States, Canada, India and Australia. It has arranged more than $2 billion in small business financing and is expanding to industry-leading technology in custom digital platform solutions for the banks and other financial institutions.