Bulgaria: Proptech company FantasticStay has announced that it has received €1.3 million in investment, in a round led by venture capital fund New Vision 3 [NV3], angel investor Velizar Velichkov and previous investors.
With the funding round, FantasticStay, which claims to be an all-in-one PMS, channel manager and service provider, plans to expand its global operations and release updates to its product and services offerings. NV3′s investment will support the growth and adoption of FantasticStay software and services in the management of short-term rental businesses.
Along with FantasticStay, NV3 will serve companies and individuals through its Vreasy brand and its partnerships with Airbnb, Booking Holdings [Booking.com] and Expedia Group.
Yordan Zarev, a partner at NV3, said: “We are happy to join FantasticStay in their quest to democratise the short-term rental industry and enable practically everyone to become a professional property manager and a business owner. Although impacted by Covid-19, the sector has very strong long-term fundamentals and we are confident that FantasticStay will be among the leading enablers in the sector.”
Ivan Nikolov, founder and CEO at FantasticStay, said: “Right now the short term rental industry, as part of the global travel industry, is still suffering a lot from the Covid-19 pandemic. We are confident that the industry will bounce back stronger than ever.
“We aim to be a support backbone and the engine behind short-term managers to streamline their operations, get more reservations, revenue and delight their guests during these unprecedented times,” he added.