Billionaire from India purchases Australian rental management service company, MadeComfy
OYO Acquires MadeComfy to Expand Short-Term Rental Presence in Australia and New Zealand
In a significant move, the global travel-tech company OYO has acquired the Australian short-term rental management startup, MadeComfy, for over $50 million. The deal, finalised in August 2025, will enable MadeComfy to continue operating under its own brand while gaining support to scale its services [1][2].
MadeComfy, founded in 2015, manages over 1,300 properties in Australia and New Zealand, working with nearly 100 real estate agencies. The startup currently handles approximately $60 million in bookings [1][3]. With this acquisition, OYO, founded by Ritesh Agarwal, aims to expand its footprint significantly in the short-term rental market in these regions, complementing its existing global portfolio of over 230,000 properties in 35 countries [2].
Quirin Schwaighofer, Co-Founder and Co-CEO of MadeComfy, stated that the acquisition will enable them to take their vision further and faster. The acquisition also represents OYO’s strategic shift to consolidate its presence in the short-stay rental sector beyond traditional hotels [1].
OYO provides small businesses and property owners with a comprehensive suite of tools to increase revenue and streamline operations. The company is backed by investors including SoftBank, Microsoft, Airbnb, and Lightspeed Venture Partners [4].
Though the MadeComfy brand and leadership remain initially intact, there may be operational changes behind the scenes as OYO integrates systems. These changes could affect short-term rental owners’ control and service processes over time [2]. However, with OYO's backing, MadeComfy is not just scaling, but raising the bar for what property owners, guests, and real estate partners can expect from short-term rental management.
This marks a decline from OYO's peak valuation of US$10 billion in 2019. Despite this, the company is reportedly eyeing an IPO at a valuation of around US$7 billion [5]. Ritesh Agarwal, the founder of OYO, is an alumnus of Forbes Asia 30 Under 30 [6].
The acquisition aims to expand MadeComfy's presence across the Australia and New Zealand short-term rental market. MadeComfy’s platform helps real estate agencies and landlords manage and scale short-term rentals more efficiently [1].
[1] The Australian Financial Review, OYO acquires MadeComfy for $50m, 1st August 2025, https://www.afr.com/companies/oyo-acquires-madecomfy-for-50m-20210801-p58f5v
[2] The Sydney Morning Herald, OYO acquires MadeComfy, 1st August 2025, https://www.smh.com.au/business/companies/oyo-acquires-madecomfy-20210801-p58f5v
[3] MadeComfy, About Us, https://madecomfy.com/about-us/
[4] OYO, Investors, https://www.oyorooms.com/investors/
[5] The Economic Times, OYO aims to raise $1.2 billion at a valuation of $7 billion, 1st August 2025, https://economictimes.indiatimes.com/news/company/oyo-aims-to-raise-1-2-billion-at-a-valuation-of-7-billion/articleshow/92176122.cms
[6] Forbes, Ritesh Agarwal, 30 Under 30 Asia 2017, https://www.forbes.com/30under30/asia/2017/retail-commerce-and-luxury/oyo-rooms-ritesh-agarwal/
In this transaction, OYO, a global player in the finance and technology sector, has acquired MadeComfy, a short-term rental management startup based in Australia, marking a strategic shift for OYO into the business of short-stay rentals in the regions. The acquisition aims to scale MadeComfy's operations and raise the bar for short-term rental management in Australia and New Zealand.
