Hotel booking startup HotelQuickly recently raised HKD9 million or USD1.16 million in investment commitments in its Series A funding round. Investors in the funding round included former chairman of Singtel and Singapore Airlines Boon Hwee Koh. HotelQuickly said that the funds accumulated from the Series A funding round would be used towards product development and operation expansions. The startup currently operates in 11 countries within the Asia Pacific Region.
HotelQuickly's app is largely patterned after San Francisco-based HotelTonight app. The Hong Kong-based startup has modeled its business strategy after Rocket Internet. This was most likely because two of its founding team members wete ex-executives of the Germany-based online startup incubator.
HotelQuickly and HotelTonight would most likely cross paths and compete against each other in the near future. Although currently serving in two different areas, HotelTonight's recent USD45 million investment from its Series D funding would see the San Francisco-based startup expand to Asia.
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