Treebo Hotels is India's most-loved branded chain of budget hotels on a mission to guarantee affordable luxury. India's budget hotel market is large and highly fragmented leading to poor traveller experience and low ROI for hotel owners. Treebo partners with existing budget hotels to provide travellers with reliable comfortable accomodation at affordable prices along with helping hotel partners earn more from their properties. We invested in Treebo when it was just a paper plan since we had very high conviction in the team as well as the differentiated asset light, yet full-stack model they wanted to pursue.