UK: Short-term rental management group GuestReady Group has raised an additional $6 million in Series A funding, bringing the total funds raised to almost $10 million.
The round was co-led by Impulse VC and VentureSouq. The funds will be used to further invest in product development and to fuel growth across Europe and Asia.
Over the past three years, GuestReady Group has firmly established itself among the globally leading companies in this industry, managing more than 2,000 properties using its in-house developed property management software solution.
The group, which includes GuestReady, BnbLord, and Oporto City Flats, currently operates in 14 cities around the world. The group has made the news following a series of acquisitions, most recently BnbLord, the leading Airbnb management company in France and Portugal.
GuestReady provides services that turn vacant residential properties into thriving listings on short-term rental platforms such as Airbnb and Booking.com, online and offline.
The company helps property owners to stay compliant with local housing regulations as well as to deliver services that exceed guests’ expectations. These services help property owners to ensure their asset stays in shape, is well maintained, and continuously delivers the maximum return on their investment.
The round was co-led by Abramovich-backed Impulse VC, which previously led GuestReady’s Seed round in 2017, and Dubai-based VentureSouq. Many of the existing investors such as Boost Heroes, Aria Group, 808 Tech Ventures, increased their positions in GuestReady as part of the Series A funding round.
Among the new investors are Dr Cornelius Boersch, one of Europe’s most successful Business Angels and founder of Mountain Partners as well as the European Investment Fund (EIF).
Dr Boersch said: “Tech-enabled services for the property industry are a super-hot trend right now. GuestReady is poised to disrupt this market as one of the fastest growing companies in the segment of short-term rental management.
“I look forward to supporting GuestReady in its mission to unlock the full potential of residential real estate,” he added.
The management team of GuestReady has previously launched and scaled a number of global companies. Christian Mischler (chairman and co-founder) and Alexander Limpert (CEO) both worked at Rocket Internet in the past.
Mischler said: “We can build on our experience in scaling operationally complex companies and apply previous learnings in our journey with GuestReady. We have highly capable teams in our local markets that bring the necessary local expertise into the mix so that we can move faster and stay more capital efficient than others in our industry.”
The additional funding will be used for the further development of the property management system, to fuel growth initiatives and to capitalise on available M&A opportunities. GuestReady will continue to invest in its local markets to strengthen its leading position and to further scale and increase product effectiveness.