Missafir raises reported $1.1m to achieve $26m valuation
Summary
Turkey: Short- and medium-term rental property management company, Missafir, has raised a reported $1.1 million in a pre-Series A investment round to achieve a $26 million valuation.The investment, representing Missafirs fourth funding round to date, was led by real estate developer Ege Yap and its technology investment company, Ege Yap Teknoloji Giriim. A number of Missafirs 30 existing investors also participated in the raise.Although the company did not disclose the amount of investment itself, the $1.1 million figure was reported first by startup advertising and sponsorship platform, webrazzi.com. It represents Missafirs first official funding round since a $550,000 bridge investment round in December 2021, which gave the startup a reported $15 million valuation.Founded in late 2018, Missafir will use the investment to accelerate its growth both in Turkey and the Adriatic region, as well as increase its technological capacities. It is bidding to become one of the largest platforms of its kind in Central and Eastern Europe in the next two years and one of the largest in the world within the next five years.The startup said that it remained in talks with additional international investors and that it hopes to launch a new investment round later this year.Missafir founder and CEO, Mehmet Y\xfcksel, said: This investment holds special significance for us. Now, together with my team, we will prove that we can grow faster locally and worldwide with all our technological capacity, he added.nan\xe7 Kabaday, chairman of the board of Ege Yap Technology Ventures, said: We believe Missafir is a highly valued startup in the proptech vertical in our country.