Silkhaus closes a Pre-Series A investment round in cooperation with PFG

Silkhaus, based in the UAE, has announced the closure of a Pre-Series A funding round with investment from the American company Partners for Growth (PFG), without disclosing the round’s value.

According to the investment agreement, the company will also gain credit facilities to support its expansion plans.

Silkhaus focuses on the short-term rental market, which, according to its statement, exceeds $100 billion USD.

It provides property owners with a platform to manage their assets, track reservations, and achieve higher income compared to traditional leasing methods.

The company claims that its clients earn 20% to 40% more than traditional rental methods.

On this occasion, Ahyan Bhugani, the founder and CEO of Silkhaus, said: “Since Silkhaus’s inception, we have witnessed remarkable demand, with a 120% increase over the past 12 months.

We are pleased to collaborate with the PFG team to initiate the expansion process across various Gulf Cooperation Council countries.

We have always focused on financial sustainability, and this global capital partnership is a testament to the strength of our unit economics.”

Armenian Baghdumian, Managing Director and Head of Partners for Growth in Europe, the Middle East, and Africa, commented: “Silkhaus is reinventing the way property owners and institutional investors can generate income from their assets by leveraging technology.

The company has laid strong foundations on the path to success, and we are excited to be part of their growth story.”

Silkhaus was founded in 2021 and previously announced the closure of a $7.75 million USD Seed funding round through regional and global investment funds.

The company currently operates in Dubai and Abu Dhabi, with plans to expand to Riyadh soon.