Over 1.6 million guest nights have been booked on GuestReady, resulting in over €60 million in rental revenues. The startup’s crowdfunding campaign, which reached more than €3,355,000, will allow further growth and expansion supporting its mission of becoming the world’s leading tech-driven accommodation company.
GuestReady is a leading property technology company focusing on short-term and mid-term rental management. The company offers a property management system (PMS), a software that powers the startup’s operations and is offered as a white-labelled to vacation rental management companies and traditional property managers as a Software-as-a-Service (SaaS) solution.
Since becoming operational in 2016, the company has grown its portfolio to 2600 properties worth over €1bn in over 30 cities worldwide, including Paris, London, Lisbon, and Dubai. The startup sources its properties from property owners (hosts) and then rents these properties to guests. It also coordinates all the required processes such as cleaning, linen services, or key-handover. Through PMS, the company automates many of these previously manual property management services and delivers them remotely from centralized support offices.
By July this year, the platform had sold more than 1,600,000 guest nights, representing a dramatic growth of 740% compared to July 2020. Rental income reached €60m this year with a positive 5.1 percent EBITDA margin reported, and its customer rating stands at 4.8/5.
A crowdfunding campaign via seedrs aimed to raise funds to support its growth in existing markets and expansion into new ones. The company raised €3,355,920 in convertible loans from 1,081 investors, corresponding to 333 percent of the initial target (€1m).
(RAN)
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