UAE's Qstay Advances Hospitality Tech with $4.6M Funding Boost

UAE's Qstay Advances Hospitality Tech with $4.6M Funding Boost

By Press Release, 13 June 2024

Dubai-based Qstay, a revolutionary hospitality and rental investment property management platform, today announced that it has successfully raised $4.6 million in a pre-Series A funding round. This latest round brings the total amount raised by the company to $11.1 million. The funding was secured through a combination of conventional and convertible debt, demonstrating strong investor confidence in Qstay's innovative approach to the hospitality industry.

Co-founded by Artur Khayrullin and Alec Redelman, Qstay is transforming the global landscape of hospitality with its technology-driven platform. The company leverages AI-powered customer service and digital concierge services to significantly enhance the guest experience while reducing operating costs by up to 50%.

“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,” said Artur Khayrullin, Co-founder of Qstay. “This investment is a testament to the strong market demand for our tech-centric, design-led hotel-style experience and the compelling economics we offer to property owners.”

Alec Redelman, Co-founder of Qstay, added, “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. The platform has already facilitated more than 130,000 nights booked and hosted over 60,000 guests, highlighting its growing popularity and success.

The company’s innovative platform not only provides superior comfort and affordability for guests but also delivers hands-off management and higher ROI for property owners. With projections of $63 million in revenue by 2025 and an 18% EBITDA margin, Qstay is well-positioned for continued growth and success.


Send us your press releases to

Related Report

Dubai’s Digital Economy and Startup Ecosystem

Dubai’s Digital Economy and Its Expanding Startup Ecosystem

Dubai’s startup ecosystem will have raised over USD 2 billion by the end of 2022, with self-employed and digital economy roles tripling. Few MENA markets have a 20-year-old startup ecosystem birthing multiple unicorns. Dubai has been the digital startup hub for tech giants and new unicorns alike. Since 2017, Dubai has raised 96% of UAE’s funds, totaling over USD 2 billion by October 2022. LinkedIn data shows a booming digital economy job market with increasing opportunities and remote work options. Learn from top home-grown startups and global transplants why Dubai is poised to become the next digital economy capital of the world.

Subscribe To Our Newsletter

Stay up to date with the latest news, special reports, videos, infobytes, and features on the region's most notable entrepreneurial ecosystems