Proptech startup Silkhaus raised Pre-series A funding to accelerate expansion plans

A state-of-the-art proptech startup called Silkhaus has announced that Partners for Growth (PFG), based in San Francisco, has contributed a multi-million-dollar pre-series A financing round to help it revolutionize short-term rentals throughout the Middle East and Asia. In order to help with its expansion goals, Silkhaus will also have access to a second multi-million-dollar credit line thanks to the agreement.

With its headquarters located in Dubai, Silkhaus is developing products for the $100 billion+ global short-term rental market. The business uses technology to give asset owners the infrastructure tools they need to maintain and profit from their properties. The average income for property owners on Silkhaus is 20–40% higher than that of traditional rental models.

Silkhaus facilitates short-term rentals by connecting individual retail owners with single apartments to institutional entities with large real estate holdings. Using technology, Silkhaus offers complete short-term rental property management solutions, handling all aspects of operations, distribution, and guest experience, from booking to check-out.

Aahan Bhojani, Founder & CEO, Silkhaus, said: “Since our launch, Silkhaus has experienced incredible demand, growing by 120% over the past 12 months. We are thrilled to partner with the PFG team as we begin scaling Silkhaus across the GCC with a diversified capital stack and investor base. We have focused on financial sustainability since inception, and this global capital partnership with PFG is a testament to our fundamentally strong unit economics.”

Armineh Baghoomian, Managing Director and Head of EMEA at Partners for Growth said: “Through the use of technology, Silkhaus is reinventing how landlords and institutional investors are able to monetize their asset base. Silkhaus’ strong fundamentals have put them on the path to success, and we are excited to be a part of their growth story.”

Since its founding in 2021, Silkhaus properties have welcomed visitors from over 120 nations. Silkhaus secured $7.75 million from international investors in 2022, during one of the biggest seed rounds in the GCC’s history.