The Dubai-headquartered firm is building for the global short-term rental industry valued at over $100 billion
UAE proptech start-up Silkhaus has raised multi-million dollar funding from San Francisco headquartered Partners for Growth (PFG) in a pre-Series A round. The company announced recently that the agreement provides Silkhaus access to an additional multi-million dollar credit line. The funds would be used to support its expansion plans.
The Dubai-headquartered firm is building for the global short-term rental industry valued at over $100 billion. In 2022, Silkhaus raised $7.75 million from global investors. Silkhaus powers short-term rentals with real estate owners ranging from institutional entities with mass holdings to individual retail owners with single apartments.
"Sikhaus has grown by 120% over the past 12 months"
The company leverages technology to provide asset owners with infrastructure tools to manage and monetise properties, explained Silkhaus. Aahan Bhojani, Founder and CEO of 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 the company across the GCC with a diversified capital stack and investor base.” He further explained, “We have focused on financial sustainability since inception, and this global capital partnership with PFG is a testament to our fundamentally strong unit economics.”
Property owners on Silkhaus earn on average 20-40% more income than through traditional rental models, the company explained. 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 monetise their asset base.”
