In the final days of its security offering on Seedrs, GuestReady has cruised past €2.3 million in funding on a target of €1 million.
Investors are receiving a convertible security that holds a 10% discount on a future round. To date, 873 investors have backed the firm that is based in Switzerland, according to the offering page.
GuestReady is a Proptech that provides services for short-term and mid-term rental management.
Launched in 2016, GuestReady is currently active in over 30 cities around the world, including Paris, London, Lisbon, and Dubai. GuesReady has developed a property management platform that automates many different services. They source properties from owners and rent them out while handling most of the interactions between renter and owner.
GuestReady provides both “Full Property Management” as well as a SaaS version of their property management platform.
The Management services garner a 28% commission on rentals. The SaaS service generates 2 to 3% of rental revenue.
Additional revenue drivers include guest management.
In the past year, GuestReady reports an increase in direct sales bookings of 740%. The company has a portfolio of over 2500 properties and has sold 1.5 million guest nights generating €60 million in revenue.
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