Silkhaus closes pre-Series A round to accelerate expansion plans
Silkhaus closes pre-Series A round to accelerate expansion plans
- UAE-based proptech Silkhaus, has raised a multi-million-dollar pre-Series A financing from San Francisco-headquartered Partners for Growth (PFG).
- Founded in 2021 by Aahan Bhojani, Silkhaus offers a marketplace for short-term rentals across the UAE, with plans to expand to Saudi Arabia.
- In 2022, Silkhaus raised $7.75 million from global investors.
Press release:
Silkhaus, a cutting-edge 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. Property 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 the 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.”
Armineh Baghoomian, Managing Director and Head of EMEA at Partners for Growth, said: “Through the use of technology, Silkhaus is reinventing how landlords and institutional investors are able to monetize their asset base. Silkhaus’ strong fundamentals have put them on the path to success, and we are excited to be a part of their growth story.”
Founded in 2021, guests from more than 120 countries have stayed at Silkhaus properties. In 2022, Silkhaus raised $7.75 million from global investors, in one of the largest seed rounds in the history of the GCC region.
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