Stayflexi raises $1.6m in seed round funding

US: California-based hotel and vacation rental software startup, Stayflexi, has announced that it has raised $1.6 million in a seed funding round.

The proptech SaaS startup, which claims to already be profitable in more than 100 cities around the world, has received investment from Y Combinator, as well as the likes of Agya Ventures, BlueField Capital, Asymmetry Ventures, Good New Ventures, and a number of unnamed individuals.

Founded in 2018, Stayflexi automates check-in, check-out and other interactions with guests to create the most customised services possible, in both vacation rental properties and boutique hotels. The company’s proprietary software is designed to automatically establish up-selling opportunities for property owners and managers, including room reservations, hands-free check-ins and contact-free payments.

CEO Venkatesh Sakamuri said that fixed check-in and check-out times had been an ongoing issue within the hotel industry and that Stayflexi would be incorporating flexible check-in and check-out times to fill vacant rooms and cater to the surge in travel demand.

Speakin told Insider: “The supply side is the problem — the system and the processes of running a hotel. There has to be a fundamental change. That’s how we decided to create an operating system.”

In the space of three years, Stayflexi has sourced 15,000 rooms in six countries and accumulated more than 3000 room bookings across 740 hotels on average every day. The company now aims to be managing 15,000 properties by 2024 and 85,000 by 2027 as part of its ambitious growth strategy.