Rental proptech company Missafir has raised $1.1 million U.S. in a pre-series A funding round led by Ege Yapı Technology Ventures, with participation from other investors.
Missafir, based in Turkey and founded in 2018, is an end-to-end property management company, offering accommodation through short-, medium and long-term rent. The homes it manages are published on more than 15 property sites, according to the company.
“Missafir is a vacation rental platform as well as a property management technology and service provider. We do offer short- and mid-term rental which covers monthly or several months of rental,” said Mehmet Onarcan, the company’s chief strategy officer, in response to a question from the AIM Group.
The pre-series A funding, which took the startup’s total funding to $2 million U.S., gives it a valuation of $26 million U.S. With the investment, the proptech company plans to double down on its growth strategy in the Adriatic region as well as Turkey.
“Missafir has already become one of the largest in Europe with its limited resources. With this strategic investment, our growth in both Turkey and Europe will continue rapidly,” Onarcan wrote in a LinkedIn post.
“I congratulate our team of 160+ people full of valuable young people who have brought Missafir to this day under the leadership of Mehmet Yuksel. I would like to thank all our investors and nearly 100,000 customers who have contributed greatly to building this brand.”