Missafir buys Golden Leaf Properties to expand in Europe
Turkey / Croatia: Turkish short- and medium-term rental property management company, Missafir, has announced that it has acquired Croatian competitor Golden Leaf Properties.
The acquisition will allow Missafir to expand further into the Central European market, 15 months after the proptech startup raised $550,000 in a bridge investment round to reach a valuation of $15 million.
Split-based Golden Leaf Properties, which was founded in 2014, manages 110 homes, including villas and apartments, across its network. The properties in popular Adriatic region destinations such as Sibenik, Split, Hvar, Zadar and Trogir will now join Missafir’s growing portfolio.
Missafir said that it was planning to announce new market entries very soon as it seeks to grow its presence in Central Europe and elevate its technological infrastructure.
Mehmet Yüksel, founder and CEO of Missafir, said: “Our entry into Croatia and the acquisition of Golden Leaf Properties is an important step for us in our journey to become a global brand that will introduce Turkish hospitality to the world. We are entering Croatia, one of the most important tourism countries of the region and one of the most popular tourism countries in recent years, with a large portfolio and a good team.
“This will provide a competitive advantage for us in entering the market and will be a strategic step towards expanding to CEE countries, where we will continue rapidly,” he added.
Maksimilijan Šprung, co-founder of Golden Leaf Properties, said: “We are very excited to join the Missafir family. Golden Leaf has been a local real estate management company for years and now we are becoming an international brand.
“There will be a lot of experience and potential outputs from this merger, providing unmatched service to hosts and an unforgettable experience for our guests in our homes. I believe that we will become the biggest home accommodation brand in this geography by combining the muscles of both sides in the very near future,” he added.
As a result of the latest acquisition, Missafir now owns more than 2,000 homes in 100+ locations in Turkey, Northern Cyprus, Montenegro and Mykonos [Greece], The company is also targeting expansion into Slovenia and Hungary by the end of 2024.
Last month, Missafir created a platform for volunteer homeowners to open up their homes for people affected by the deadly 6.4-magnitude earthquake in Turkey and Northern Syria, which left more than 57,000 fatalities and 121,000 people injured.
Hosts still wishing to volunteer their home to earthquake survivors in need are advised to fill out this form. Those looking for a place for temporary accommodation because their house was damaged in the earthquake/s are advised to follow this page.