Silkhaus, a Dubai PropTech startup dedicated to transforming the short-term rental landscape in the Middle East and Asia, has recently announced a substantial pre-series A financing round. The funding comes via San Francisco-based Partners for Growth (PFG). The strategic partnership also grants Silkhaus access to a substantial credit line, which will facilitate its ambitious expansion plans.

Silkhaus harnesses cutting-edge technology to provide property owners with the essential infrastructure tools to manage and monetize their real estate assets. The startup oversees every aspect of the rental process, from handling bookings to property distribution and operations, ensuring an exceptional guest experience.

On average, property owners using Silkhaus platforms report earning between 20% to 40% more income compared to traditional rental models.

The significant cash injection means that Silkhaus is now poised to disrupt the global short-term rental sector, which boasts a valuation of over $100 billion.

Aahan Bhojani, the Founder and CEO of Silkhaus, expressed his enthusiasm for the partnership with PFG, saying, “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 Silkhaus across the GCC with a diversified capital stack and investor base”.

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Meanwhile, Armineh Baghoomian, Managing Director and Head of EMEA at Partners for Growth, praised Silkhaus for its innovative approach, noting, “Through the use of technology, Silkhaus is reinventing how landlords and institutional investors are able to monetize their asset base. Silkhaus’ strong fundamentals have put them on the path to success and we are excited to be a part of their growth story”.

Established in 2021, Silkhaus has already attracted guests from over 120 countries to its properties. In 2022, the company secured $7.75 million in funding from a consortium of global investors, marking one of the most significant seed funding rounds in the history of the GCC region.