GuestReady closes US$700,000 angel round
By Chong Jinn Xiung November 17, 2016
- Funding will allow it to focus on enforcing its existing markets by hiring more essential staff
- To seek seed round next year
GLOBAL short-term rental management company, GuestReady has announced that it has closed a US$700,000 Angel Round.
GuestReady launched in August with a mission to offer hassle-free hosting to help homeowners renting out short-term stays on services like Airbnb. It covers a wide range of services such as listing creation, guest communication, housekeeping, laundry and key management.
Among this round’s investors and advisors are Senn & Partner Holding Ltd, a Swiss real estate development and investment company, Georg Bauser, former director at Airbnb, and Swiss Founders Fund (SFF), who acted as the lead investor.
“We are extremely happy to have received the backing of these high-profile investors who will continue to support us on our journey,” says Alexander Limpert (pic, above), London-based GuestReady co-founder & CEO.
Limpert added that the majority of the funds will be allocated to filling vacant positions in their primary markets, as well as bringing their tech platform to the next level.
GuestReady said it is doubling down on markets where demand meets expectations while assessing new markets to expand into. Part of that strategy is to focus adding more staff to the existing teams to grow them faster.
“We have managed to close this round a lot faster than expected. We could have closed with a significantly larger round, but resisted the temptation and stayed selective with regards to our investors,” said its co-founder and city manager for GuestReady Singapore Idzwan Tan.
On the question of whether GuestReady is going to start raising its next round of funding, he said “We are most likely going into a seed round early next year, but for the time being we are happy to shift our focus back on ramping up the business.”