Silkhaus gets $7.75M to digitize shortterm rentals across emerging markets

News Summary

  • In an interview with TechCrunch, Bhojani, an HBS and Yale College graduate who had previously worked across roles that required extensive travel, such as management consulting and investment banking, said what spurred him to launch Silkhaus was the change in the travel behavior of small-business owners post-pandemic.
  • The company claims that it allows property owners to list multiple or single units on the platform with an average revenue yield increase between 20-40%.“Frankly speaking, finding a good short-term rental in these markets is like pulling a needle out of a haystack.
  • He said the proptech startup, which has grown over 10x in revenue over the last 12 months, is planning to enter the top 1% in the next two months by growing the supply of properties on its platform.
  • It’s digitizing the process of operating short-term rentals for large and small property owners by providing an operating system that includes tools needed to monetize and manage their properties.
  • But while platforms like Airbnb have fantastically aggregated demand to meet supply in the U.S. and Europe, it’s a different experience in emerging markets where supply isn’t sufficiently pooled together to meet Airbnb-pulled demand.
  • According to the CEO, Dubai was the ideal market for launching Silkhaus because its infrastructure presents one of the most advanced setups for short-term rentals, embodies a progressive government regulation for proptech and welcomes varying demands from different consumer types.
Silkhaus, a Dubaibased platform for shortterm rentals coming out of stealth, has raised $7.75 million in seed funding, money it plans to use for expansion across South Asia, Southeast Asia and the [+4730 chars]