Silkhaus Concludes Multi-Million Pre-Series A Funding Round

Silkhaus Concludes Multi-Million Pre-Series A Funding Round

UAE-based short-term rental proptech, Silkhaus, has successfully closed a substantial pre-Series A funding round, as announced by the company. The funding was led by Partners for Growth (PFG), a San Francisco-based investment firm. Silkhaus, founded in 2021 and headquartered in Dubai, specializes in digitizing the operation of short-term rentals for both large and small property owners. The startup provides an innovative operating system equipped with tools to streamline the monetization and management of properties, allowing owners to list single or multiple units on the platform.

In addition to the funding, Silkhaus has secured access to a multi-million dollar credit line as part of the agreement, intended to support the company’s ambitious expansion plans. Noteworthy venture capital firms, including Nuwa Capital, Nordstar Partners, Global Founders Capital, Yuj Ventures, Whiteboard Capital, and VentureSouq, have previously backed Silkhaus.

Having raised $7.75 million in seed funding in 2022, marking one of the largest seed rounds in the GCC region’s history, Silkhaus is now gearing up for expansion into Saudi Arabia. Aahan Bhojani, Founder and CEO of Silkhaus, expressed enthusiasm about the partnership with the PFG team, highlighting the company’s impressive growth of 120% over the past 12 months. Bhojani emphasized Silkhaus’ commitment to financial sustainability and described the global capital partnership with PFG as a validation of their strong unit economics.

Armineh Baghoomian, Managing Director and Head of EMEA at Partners for Growth, acknowledged Silkhaus’ use of technology in redefining how landlords and institutional investors monetize their asset base. Baghoomian expressed excitement about being part of Silkhaus’ growth story, recognizing the company’s strong fundamentals.

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