Qstay currently operates over 300 properties across nine markets in four countries, with plans for further expansion into additional markets between 2024 and 2026
Qstay, a hospitality and rental investment property management platform based in Dubai, has successfully raised $4.6m in a pre-Series A funding round.
This latest round brings the total amount raised by the company to $11.1m. The funding was secured through a combination of conventional and convertible debt.
Co-founded by Artur Khayrullin and Alec Redelman, Qstay leverages AI-powered customer service and digital concierge services to significantly enhance the guest experience while reducing operating costs by up to 50 per cent.
Qstay portfolio includes properties in four countries
The company currently operates over 300 properties across nine markets in four countries, with plans for further expansion into additional markets between 2024 and 2026.
The platform has already facilitated more than 130,000 nights booked and hosted over 60,000 guests, underscoring its growing popularity and success.
“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 optimizse returns for property owners. We are committed to expanding our footprint and enhancing our platform’s capabilities.”
With projections of $63m in revenue by 2025 and an 18 per cent EBITDA (earnings before interest, taxes, depreciation, and amortisation) margin, Qstay is well-positioned for continued growth.
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