Dubai-based property technology startup Qstay has successfully raised $4.6 million in pre-Series A funding. This capital infusion strengthens the company’s position in the hospitality and rental property management sector. Since its inception, Qstay has accumulated a total of $11.1 million through a combination of conventional and convertible debt.
Qstay, founded by Artur Khayrullin and Alec Redelman, utilizes AI technology to enhance guest experiences in the hospitality industry. Their platform offers customer service and a digital concierge, while reducing operating costs by up to 50%.
Artur Khayrullin, Co-Founder of Qstay, stated, “Securing this additional funding allows us to accelerate our growth and continue to innovate within the hospitality sector.”
Alec Redelman, Co-Founder of Qstay, added, “Our investors’ support strongly endorses our vision to redefine guest experiences and optimize returns for property owners. We remain committed to expanding our reach and enhancing our platform’s capabilities.”
Currently, Qstay manages over 300 properties across four countries, facilitating more than 130,000 nights booked for at least 60,000 guests. The startup projects revenue of $63 million by 2025, with 18% EBITDA margins.
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By Proptechbuzz
By Ravi Kumar
