FantasticStay, a short-term rental technology specialist, has received €1.3 million in funding.
The investment for the startup, which was founded in 2018, is led by New Vision 3 (NV3) Fund.
The funds will go towards the company’s growth, developing its technology and driving adoption of its technology amongst short-term rental property managers.
Ivan Nikolov, founder and CEO, FantasticStay, says: “Right now the short term rental industry, as part of the global travel industry, is still suffering a lot from the COVID-19 pandemic. We are confident that the industry will bounce back stronger than ever.
"We aim to be a support backbone and the engine behind short-term managers to streamline their operations, get more reservations, revenue and delight their guests during these unprecedented times.”
The startup offers a property management system and channel management technology and has partnerships with Airbnb, Booking Holdings and Expedia.
It acquired rival company vacation rental technology specialist Vreasy in early 2020.
Yordan Zarev, partner, NV3, says: “We are happy to join FantasticStay in their quest to democratize the short-term rental industry and enable practically everyone to become a professional property manager and a business owner.
"Although impacted by COVID-19, the sector has very strong long-term fundamentals and we are confident that FantasticStay will be among the leading enablers in the sector.”