Apartment rental startup Casai has raised $48 million in funding led by Andreessen Horowitz.
Investment in the Mexico-based company includes a partnership with TriplePoint Capital for a debt facility of up to $25 million.
The funding comes on top of $5 million in seed funding led by Monashees Capital and Kaszek Ventures.
Nico Barawid, CEO of Casai (casa intelligente or smart home), says the product is designed to combine “intelligent living spaces” with “unique local touches.”
The company provides guests with a mobile app to control their stay enabling them to access booking details and city guides, get check-in codes and chat with a concierge.
He says through the capital raised the company is able to put back into the local economy by working with artisans in destinations.
Barawid adds that with occupancy at 90%, the concept feeds into the current need for touchless solutions and a focus on hygiene with keyless entry and “industrial-grade housekeeping.”
Recent research from Google reveals private accommodation is recovering faster than hotels in most destinations.
The Casai concept also feeds into digital nomad trend being highlighted by some.