Qstay Hospitality Technologies, a Dubai, UAE-based DIFC based hospitality company, raised $6.5M in Seed debt and equity funding.
The backers were not disclosed.
The company intends to use the funds to accelerate expansion globally.
Launched in 2020 by a long-time UAE resident Artur Khayrullin, CO-CEO; Ukrainian born Ekaterina Rogozhina, CCO; Ukrainian American Alec Fesenko, CO-CEO and his wife Natalya Fesenko, the initial investor, Qstay operates as a virtual hotel brand which provides luxury hotel-like services and amenities such as bathrobes, slippers, luxury toiletries, bathroom amenities, tea, Starbucks coffee. Additionally, Qstay provides digital app-based access to nearby pools, beaches, gyms and spas for its guests staying in beachfront properties.
The company leases large groups of units in the top locations, upgrades and furnishes them to the consistent luxury standard and supports them with the extensive luxury hotel-like services and amenities, providing guests with exceptionally designed accommodations at affordable prices on a nightly, weekly or monthly basis. They also offer text-enabled around-the-clock concierge service. Qstay currently operates close to 200 properties in the UAE and Europe, 200 more are signed and expects to have 450 revenue generating units by the end of 2022.
FinSMEs
24/07/2022