Staykeepers has successfully broken their second-round investment target using equity crowdfunding platform, Seedrs. After opening up an investment stake in the business, over 80% was funded days after launching the public campaign – and at the time of writing, 124% has been raised.
The £500k crowdfunding campaign launched to fund expansion, creating huge potential for the hospitality tech business. With a company valuation of £30m, Staykeepers has the signs of being a sound investment for the 136 investors who have pledged an average of £4,488 each.
Proptech company Staykeepers focuses on connecting quality student accommodation, Build to Rent and Co-living accommodation with guests and travellers around the world in a flexible and agile manner, and has started expansion into Europe and the US.
Tech founders Ivo and Miroslav Gospodinov built Staykeepers in 2015, after arriving in the UK with little to no capital or connections. The business model soon attracted investment, receiving a £500k angel investment, and was on course for an £18m valuation before the pandemic struck.
Active in over 57 cities around the world and working with some of the biggest student accommodation, Build to Rent and multifamily operators, Staykeepers works to fill short term and long term lets, affording its landlords and investors maximum exposure across world-leading platforms such as AirBnB and Expedia.
The business model is centred around market-leading technology, which enables its investors to generate untapped revenue from void units. Any NOI growth generated by Staykeepers income contribution to these units will inevitably flow through into improved portfolio and asset valuation.
Hit by the challenges of the pandemic, the business demonstrated adaptability and resilience, which has most likely attracted like-minded investors and shareholders.
Staykeepers CFO, Miro Gospodinov, talks about the resilience of the company during the Covid-19 pandemic, where they were able to quickly recover from a slight hit to revenue.
“We felt the impact of Covid-19 at the beginning of 2020. As a result, our company’s revenue was reduced significantly. However, we were able to recover quickly over that summer and achieve our record level during the August. We were also able to maintain stable occupancy at 70% for the past six months with 286% revenue growth between January and July 2021.
“Covid-19 has enforced innovation and adaptation in the real estate sector and I see that accelerating, not decelerating.”Miro Gospodinov, CFO, Staykeepers
As short-term lets dried up during the pandemic, the Gospodinov brothers adapted their business model to ensure stability, and maintain occupancy for their clients.
Last year, Staykeepers recorded a 32% increase in the number of properties they operate. And with recent times motivating landlords to adapt and innovate in order to secure alternative incomes, Staykeepers can offer technological support to pivot revenue into new markets.
Staykeepers is hoping to partner with investors and shareholders with a similar growth mindset. Portfolio exposure for landlords includes over 400 marketing platforms such as Airbnb, Booking.com, TripAdvisor and Expedia. But they have also identified other websites where mid-to-long term lets might be found, integrating units on those platforms to market them, covering short term to long term rentals.