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Missafir secured this investment and is paving its way for rapid growth in the Adriatic Region
April 12, 2023 | Staff Reporter | Istanbul | Property Management
Missafir, founded in 2018 as a short- and medium-term home rental management platform, secured an investment based on a $26 million valuation in its Pre-Series A funding round, paving the way for rapid growth both in its native Turkey and the Adriatic region.
Ege Yapi Technology Ventures, one of Turkey’s largest real estate developers, took part in the funding as a strategic investor. Missafir founder Mehmet Yüksel said the investment holds special significance.
“A major real estate player in the country like Ege Yapi investing in the [property technology] field is an important development both for our country and the industry,” he said. “Moreover, this investment is not just a capital investment but a strategic step to rapidly expand our portfolio and begin potential collaborations with our investors. With strategic business partners at the table, I believe stronger growth will be achieved.”
Ege Yapi chairman Inanç Kabadayi also emphasized the importance of the partnership in Turkey and beyond. “We believe Missafir is a highly valued startup in the proptech vertical in our country. They achieved a first in Turkey and have created great value with what they have done,” Kabadayi said. “We supported them by making one of our country's largest investments in the proptech field. As Ege Yapi, we will stand by Missafir in their journey ahead and support them in becoming a brand that expands from our country to the world.”
With this investment — completing Missafir’s fourth funding round — the company announced it would accelerate expansion into the European market and increase its technology development investments, scaling even more rapidly to capture a larger share of the global short-term rental market.
“From day one, we have prioritized technology at Missafir,” said Mesut Çilingir, Missafir's head of technology. The platform offers dynamic pricing, integration with multiple platforms through a single interface, channel management, innovative home technologies and data analysis.
“Our technology has brought us to this point today, and soon, we aim to be a company that follows technology and leads the world in this field with new world technologies like AI and Web3 in our products."
