Dubai - Sharikat Mubasher: Qstay, a leading hospitality and rental investment property management platform based in Dubai, secured $4.6 million in a pre-Series A funding round, increasing the total fund it raised to $11.1 million, the company announced in a press release.

The fund, which was secured through a combination of conventional and convertible debt, will fuel Qstay’s plans to expand its footprint and enhance the platform’s capabilities.

Qstay's technology-driven platform harnesses artificial intelligence (AI) to enhance guest experience by providing better customer service and digital concierge services while reducing operating costs by up to 50%.

Commenting on the round, Artur Khayrullin, Co-founder of Qstay, said: “We are thrilled to have secured this additional funding, which will enable us to accelerate our growth and continue to innovate in the hospitality sector.”

He noted that the investment reflects the robust market demand for Qstay’s tech-centric and design-led hotel-style experience.

For his part, Alec Redelman, Co-founder of Qstay, commented: “The support from our investors is a strong endorsement of our vision to redefine the guest experience and optimize returns for property owners. We are committed to expanding our footprint and enhancing our platform’s capabilities.”

Qstay currently operates over 300 properties across nine markets in four countries, with plans for further expansion into additional markets between 2024 and 2026. It has facilitated more than 130,000 nights booked and hosted over 60,000 guests.