Japanese ecommerce brand Rakuten is backing fellow Asian web brand MetroResidences with a USD 2.8 million investment.

The Singapore-based startup is the sister-brand of existing short-term rental service PandaBed and has been gradually building up a network of properties in its home city since 2014.

It is solely focused on providing rental condos and living spaces for business travellers needing accommodation for a month or more.

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