Airbnb property management firm GuestReady’s latest crowdfunding campaign has smashed its €1 million target in 24 hours.

The Seedrs offer has been hugely over-subscribed – raising €1.5 million or £1.2 million and counting from nearly 400 investors – demonstrating the huge interest in the short-term accommodation sector and reinforcing the continued staycation holiday boom.

At the start of the year, GuestReady raised £1.3 million from a similar campaign and was the second largest Seedrs crowdfunding campaign of 2020. It also raised £4.75 million in European funding led by a Russian venture capital firm.

UK-based GuestReady manages short lets via sites such as Airbnb, Booking.com and Expedia on behalf of lanldords, offering services including guest management, property maintenance, housekeeping and listing management to help landlords maximise rental revenue.

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They can then keep up-to-date with a mobile app showing revenue and ratings.

GuestReady operates in 30 cities across Europe and the Middle East with a portfolio of more than 2,500 properties and has an ambition to reach 10,000 soon.

Bookings boom

Currently in London neighbourhoods such as Mayfair and Chelsea, the company says its bookings have increased by 300% so far this year and in July were double its July 2020 booking levels.

CEO Alexander Limpert (main picture) says the fast response to its share offer is a strong vote of confidence in the company’s vision.

He adds: “There still are many investors coming in and we would like to offer them the opportunity to join us on this great journey. For now, we are officially overfunding and are still accepting more investments.

“We do not know yet for how long, and thus invite all of those who are thinking of jumping on board to not miss out on this opportunity.”

Read more about short-lets industry.

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