Qstay, a groundbreaking hospitality and rental investment property management platform in Dubai, raised $4.6 million in pre-Series A funding. New funding takes the company’s total to $11.1 million.
The finance was raised via conventional and convertible loans, reflecting investor confidence in it’s innovative hospitality concept.
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It was founded by Artur Khayrullin and Alec Redelman, is changing global hospitality with technology. The company uses AI-powered customer service and digital concierge services to improve visitor satisfaction and cut costs by 50%.
“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.”
Qstay has approximately 300 properties in nine cities in four countries and expects to expand between 2024 and 2026. Already booking over 130,000 nights and hosting over 60,000 guests, the site is proving popular and successful.
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The company’s revolutionary technology offers visitors improved comfort and affordability, hands-off management, and higher ROI for property owners. Qstay is poised for growth with $63 million in revenue by 2025 and an 18% EBITDA margin.
About Qstay
The technology-driven hospitality startup QSTAY offers holiday and corporate rentals with the service and convenience of a luxury hotel in the privacy and comfort of home.
