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Sundes raises US$500k in funding to fuel expansion plans

Chile: Santiago-based short- and mid-term rental startup, Sundes, has announced that it has closed an investment round worth US$500,000. 

The round was led by a number of Chilean and international investors, predominantly from the United States.

Sundes aims to use the capital injection to consolidate its position in its domestic market, as well as map out its international expansion plans in Latin America, and potentially beyond, according to CEO Juan Pablo Zañartu.

The company currently offers a selection of 300 properties in Chile and is seeking to increase its offering to 1000 properties within the next 24 months.

In the last 12 months, Sundes claims to have recorded sales worth up to US$800,000, totalling more than 200 bookings

Zañartu said: “We want to say a huge thank you to our investors, our customers and our team. This validates our mission to continue generating value for our clients through personalised service and the selection of the best properties in the vacation rental market.”

As a full-service villa rental company, Sundes says that it is dedicated to creating authentic travel experiences, and its complimentary guest support includes a team of villa specialists dedicated to finding the perfect home for guests to stay in.

Sundes previously secured US$300,000 in a seed funding round in December 2019.

In IHM’s topsy-turvy Z-A feature in January, which detailed the major hospitality and real estate trends we expect to see in the year ahead, we discussed how the Latin American market is piquing investor interest. This included Sundes, as well as Naya Homes [Mexico], Casai [Mexico] and Nomah [Brazil] who merged to create a rental powerhouse, and Despegar and Blueground, who have both made high-profile acquisitions across the continent.