Australian short-term rental management firm MadeComfy has been acquired by Indian hospitality company Oyo in a deal reportedly valued at over $50 million.
The acquisition is expected to strengthen Oyo’s presence in Australia and New Zealand—markets the company has identified as high-yield. Oyo, backed by investors including SoftBank, Microsoft, Lightspeed Venture Partners, and Airbnb, manages more than 233,000 properties across 35+ countries.
While official terms were not disclosed, media reports indicate that the acquisition includes both cash and equity in Oravel Stays, Oyo’s parent company. The MadeComfy brand will continue to operate under the new ownership.
Founded in 2015, Sydney-based MadeComfy has raised around $20 million in venture capital over the years. Its most recent funding came in 2023—a $10 million round comprising both equity and debt, led by Commencer Capital. Earlier investors include Investec, which backed the company with $1.1 million in 2017 and $6 million in 2018.
The company’s cap table includes notable names such as Amaysim cofounders Rolf Hansen and Peter O’Connell, former LinkedIn ANZ MD Cliff Rosenberg, former REA Group CFO Georg Chmiel, MC Fiduciary, and BridgeLane Capital.
Currently, MadeComfy supports approximately 100 real estate agencies in managing short-term rental properties. The company recently expanded operations to New Zealand and manages about 1,300 properties across both countries, generating a gross booking value (GBV) exceeding $60 million annually.
Oyo plans to integrate its revenue management and pricing technology to help optimize MadeComfy’s offerings for property partners.
MadeComfy cofounder and co-CEO Quirin Schwaighofer described the acquisition as “a great outcome” for customers, partners, and shareholders. He emphasized the strategic fit between the two companies, citing MadeComfy’s regional expertise and Oyo’s technology scale as complementary strengths.
Shreerang Godbole, Chief Service Officer at Oyo, said MadeComfy brings a strong understanding of the short-term rental market in Australia and New Zealand. “What excites us is how their local market expertise, combined with our global infrastructure, will deliver greater value to property partners,” she said.
Looking ahead, MadeComfy aims to grow its network to over 300 real estate agency partners, expand corporate accommodation offerings, and enter other markets within Oyo’s global network.
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By Ravi Kumar