Pre-Series A funding round of $4.6 million has been successfully raised by Dubai-based Qstay, a revolutionary platform for managing rental investment properties and hospitality. The business has now raised $11.1 million in total due to this most recent round. Strong investor confidence in Qstay’s novel approach to the hospitality industry is demonstrated by the funding, which was obtained through a combination of conventional and convertible debt.
Qstay is a technology-driven platform that is revolutionizing the global hospitality landscape. It was co-founded by Artur Khayrullin and Alec Redelman. In order to drastically improve the visitor experience and cut expenses by up to 50%, the company uses AI-powered customer care and digital concierge services.
“We are thrilled to have secured this additional funding, which will enable us to accelerate our growth and continue to innovate in the hospitality sector,” said Artur Khayrullin, Co-founder of Qstay. “This investment is a testament to the strong market demand for our tech-centric, design-led hotel-style experience and the compelling economics we offer to property owners.”
Alec Redelman, Co-founder of Qstay, added, “The support from our investors is a strong endorsement of our vision to redefine the guest experience and optimize returns for property owners. We are committed to expanding our footprint and enhancing our platform’s capabilities.”
With plans to expand into more markets between 2024 and 2026, Qstay currently manages over 300 properties in nine markets across four countries. The platform has demonstrated its increasing popularity and success by facilitating over 130,000 nights booked and hosting over 60,000 guests.
The company’s cutting-edge platform offers hands-off management and a higher return on investment (ROI) for property owners in addition to offering guests greater comfort and affordability. With estimates of $63 million in revenue and an 18% EBITDA margin by 2025, Qstay is in a strong position to grow and succeed going forward.
