Rental technology specialist Matsuri Technologies has raised about $16 million in Series C funding.
The Japan-based company says it wants to expand its StayX platform, which enables guests to book their stay as well as check in and check out via mobile app, across the country.
StayX also provides property owners and managers with flexibility in how they rent their accommodation from a one-night stay to several years or for multi-purpose.
Investment came from JIC Venture Growth Investments, RFI Advisors and Mitsubishi UFJ Capital.
Hideki Kaorumizu, CEO of JIC Venture Growth Investments, says: “Matsuri technologies operates real estate vacancies as a hybrid of accommodation and short-term rental based on proprietary technology services. By doing so, the accommodation industry can be operated with a high occupancy rate and low cost operation even in the pandemic, and a sustainable business structure can be created.”
The company has raised about $28 million since 2016.
Matsuri says it has managed to triple sales in the past two years by launching new businesses such as s-villas in rural areas in Japan.
It also offers an apartment brand called stayme for stays in Tokyo.