Silkhaus, a Dubai based proptech startup dedicated to revolutionising short-term rentals across the Middle East and Asia, has announced it has raised a multi-million pre-series A financing from San Francisco headquartered Partners for Growth (PFG).
The agreement also provides Silkhaus access to an additional multi-million dollar credit line to support its expansion plans.
Headquartered in Dubai, Silkhaus is building for the global short-term rental industry valued at $100B+. The company leverages technology to provide asset owners with infrastructure tools to manage and monetize properties. Properties owners on Silkhaus earn on average 20-40% more income than through traditional rental models.
Silkhaus powers short-term rentals with real estate owners ranging from institutional entities with mass holdings to individual retail owners with single apartments. Silkhaus leverages technology to provide end-to-end property management solutions for short-term rentals, managing every aspect from bookings to distribution, and from operations to guest experience.
Aahan Bhojani, Founder & CEO, Silkhaus said:
“Since our launch, Silkhaus has experienced incredible demand, growing by 120% over the past 12 months. We are thrilled to partner with the PFG team as we begin scaling Silkhaus across the GCC with a diversified capital stack and investor base. We have focused on financial sustainability since inception, and this global capital partnership with PFG is a testament to our fundamentally strong unit economics”.
Founded in 2021, guests from more than 120 countries have stayed at Silkhaus properties. In 2022, Silkhaus raised $7.75 million from global investors.
Featured image credit: Aahan Bhojani, Founder & CEO, Silkhaus
