Yanolja has provided funding as part of a deal that gives it the option to wholly acquire the short-term accommodation booking platform.

Short-term accommodation platform Yanolja has paid $15m for a “significant” stake in Singapore-based hotel booking platform Zen Rooms.

Founded in 2015, Zen Rooms runs an online short-term accommodation booking service connected to a network of more than 7,000 rooms across Indonesia, Malaysia, the Philippines, Singapore and Thailand.

However, the company had been making losses leading to reports in March this year that it could shut down. The deal gives Yanolja the right to wholly acquire Zen Rooms in future.

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