Emerald staya proptech that acquires and develops vacation rentals, has announced that it has raised 127% of its €500,000 goal with 18 days remaining in its Seedrs campaign, according to Crowdfund Insider.
The Switzerland-based company was founded in 2017 and has been operating premium vacation rentals since 2018. Emerald Stay says its service, which it calls “Smart Ownership”, improves guest experience and optimizes operations, including cleaning and dynamic pricing on third-party rental channels.
The company’s monetization strategy is to profit from the operating houses’ margin, claiming that they earn the difference between the pre-integration margin of the company they acquire and the post-integration market. Emerald Stay also noted a targeted 40-70% increase in these margins through the optimization of operations automation, distribution and synergies at headquarters.
The fundraising campaign, which included the participation of 154 investors at the time of its publication, aims to increase the company’s acquisition efforts.
Emerald Stay noted that “Through each acquisition of 1 million euros, we aim to add between 8 and 10 million euros to the valuation of our group. Over the last 6 months, we have built a pipeline of 81 qualified and engaged targets 21.”
He also said he aimed to target the 140,000 rental operators worldwide, who often have excellent contracts with owners but lack the resources to operate optimally. It also confirmed that it is now making its first four acquisitions.
The company has already enjoyed success since its inception, recently winning the 2021 “Best Leisure Property Manager” award, according to campaign notes. Emerald Stay also noted that it has been profitable since November 2021 and that its monthly revenue increased by 240% in December 2021 and 600% in January 2022.
In other recent proptech news, Roostify announced a partnership with ICE Mortgage Technologies to offer a hybrid electronic fence option on its platform and boost its electronic fences. LoanDeposit is also restructuring to create a new digital products and services unit named Hello.