Söderström, who is the founder DIG Investment, will also be buying shares worth an undisclosed amount in OYO Hotels and Homes. As a member of the board, he will now “work closely with the management team of OYO to drive continued and sustainable growth in the company”.
In addition he will provide guidance on potential merger and acquisitions opportunities, and will also assist the organisation in “building deep strategic partnerships” with other EU-based companies and “lay out its brand positioning strategy as a thought leader in the vacation rental space”.
Ritesh Agarwal, founder and group CEO, said: “Given Martin’s deep understanding of the region and strong business acumen, I am elated to welcome him as an investor and a fellow board member at OYO Europe.
“He has a proven track record of investing and growing tech-focused businesses in India and globally with immense knowledge about the Asian and global entrepreneurial and investment ecosystem.”
He added:“We are positive that his deep experience in and working with high-growth companies will add a lot of value to our growth journey in Europe, both organic and inorganic, and support us in our long-term goal of an IPO.”