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Zostel turns a new leaf in fundraising, Turns to customers for funding

Megha Jain

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Image Credit: inc42

Zostel Hospitality Pvt Ltd which owns two brands — budget hotel chain Zo Rooms and backpackers’ hostel chain Zostel — has turned to its customers to raise INR 10 Cr funding at a pre-money valuation of INR 75 Cr. The company has invited its patrons to turn angel investors and infuse anywhere between INR 5 Lakh to INR 1 Cr into its hostel chain Zostel. Zostel had recorded INR 4.1 Cr revenues and INR 5 Cr in expense in FY2020.