A company that seeks to persuade landlords to rent their homes out via Airbnb and Booking.com rather than using letting agents has raised a further £4.78 million in funding including cash from a Russian VC fund.
GuestReady, which has offices and a considerable team in London and presents itself as a proptech company, runs properties on behalf of landlords including doing check-ins, cleaning, maintenance and ensuring properties ‘deliver the maximum return on investment’.
The fund made the investment in the company via Impulse VC along with half a dozen other tech investment funds including one run by European business backer Cornelius Boersch.
“Tech-enabled services for the property industry are a super-hot trend right now,” says Boersch. “Guest Ready is poised to disrupt this market as one of the fastest-growing companies in the segment of short-term rental management. I look forward to supporting GuestReady in its mission to unlock the full potential of residential real estate.”
The founders of GuestReady have connections to the UK property market. COO Christian Mischler and CEO Alexander Limpert (pictured, top) both previously worked at companies backed by German VC firm Rocket Investments which helped fund online rental platform OpenRent, which now claims to be the largest letting agency in the UK by listings.
GuestReady says it will use the additional, to upgrade its online property management system, grow market share and buy up competitors and grow its position in London.
The company also has operations in Paris, Hong Kong, Kuala Lumpur, Dubai and Lisbon. It employs 1,500 people globally and currently has 2,000 properties under management.