Hostaway bags new funding for rental software

The software has been designed specifically for professional property owners with listings on multiple holiday rental booking platforms and allows its users to manage their rental units, bookings and prices conveniently through a single dashboard.

“Our software is built together with our clients for our clients who want to manage their daily activities easily and with zero hassle,” summarisesMarcus Räder, the co-founder and chief executive of Hostaway.

“We have a solid software that gives hosts full control over pricing and booking schedules. Managers can also message guests on any platform directly through Hostaway,” he adds.

The Helsinki-based software developer points out that professional property managers face intensifying competition for bookings with well over 10 000 boutique hotels already advertising rooms on platforms originally intended for short-term rental properties, such as Airbnb.

Räder believes the property management platform will also enable such booking platforms to expand to and grow in new markets.

“Airbnb and HomeAway dominate the US market, yet Booking.com dominates European markets. By diversifying across multiple rental channels, property managers enjoy more bookings, and short-term rental platforms also enjoy growth in their weaker markets,” he explains.

Räder shared the origin story of Hostaway with Good News from Finland in October, 2016.

Hostaway has now raised a total of 1.16 million euros after its latest round of funding. It has received investments from both private and institutional investors, including Business Finland, a public agency supporting the internationalisation of businesses in Finland.

Good News from Finland is published by Finnfacts, which is part of Business Finland.