Qstay Raises $4.6 Million in Pre-Series A Round
Qstay is licensed by Dubai Department of Tourism Commerce & Marketing (DTCM).
UAE-based hospitality platform Qstay has wrapped up its $4.6 million pre-Series A funding round. This latest investment brings the total amount raised by the company to $11.1 million. The funding was secured through a mix of conventional and convertible debt.[1]
The new funding will enable Qstay to accelerate its growth plans.
Founded in 2020 by Artur Khayrullin, Ekaterina Rogozhina, Alec Fesenko and Natalya Fesenko, Qstay utilizes AI-powered customer service and digital concierge services.
Currently, Qstay operates over 300 properties across nine markets in four countries, with plans to expand into additional markets between 2024 and 2026. The platform has already facilitated more than 130,000 nights booked and hosted over 60,000 guests, underscoring its growing popularity and success.
Qstay also provides digital app-based access to nearby pools, beaches, gyms, and spas for guests staying in beachfront properties.
The company operates as a virtual hotel brand with 200 units.
QSTAY is licensed by the Dubai Department of Tourism Commerce & Marketing (DTCM).