The round was co-led by Abramovich-backed Impulse VC and Dubai-based VentureSouq, while many existing investors, including Boost Heroes, Aria Group and 808 Tech Ventures also participated. The funds will be used to boost development of the company’s property management system, as well as finance growth initiatives across Europe and Asia.
“We can build on our experience in scaling operationally complex companies and apply previous learnings in our journey with GuestReady,” said Christian Mischler, co-founder at GuestReady, according to Business Cloud. “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 company currently manages more than 2,000 properties via its in-house developed property management software solution. GuestReady Group, which includes GuestReady, BnbLord, and Oporto City Flats, operates in 14 cities around the world.
In April it was reported that GuestReady had acquired another rival in its quest for market prominence. The company acquired French competitor BnbLord, a similar startup that claimed to be the biggest Airbnb host-assistance platform in France and also Portugal. The details of the acquisition are unknown.
GuestReady’s first acquisition was Easy Rental in 2017, which operated in the U.K. and France. It also acquired Portugal-based Oporto City Flats last year, and France’s We Stay In Paris.
“We are extremely excited about this acquisition because it allows GuestReady to propel forward and become the largest service provider in the vacation rental industry,” GuestReady CEO and co-founder Alexander Limpert said at the time. “Since we started, we have been very focused on operational excellence and building a property technology system that allows us to automate non-core processes.”