SaffronStays, a managed vacation residence and villa hospitality platform, has raised $3.5 million in a funding spherical led by Infinity Ventures, with participation from household places of work.

The spherical included a mixture of recent main capital and a partial secondary sale by current investor Sixth Sense Ventures.

The startup was based in 2015 by Tejas Parulekar and Devendra Parulekar and is headquartered in Mumbai. It operates a community of managed villas, heritage properties, and trip properties throughout India.

SaffronStays works with owners who personal second properties or trip properties and manages these properties as hospitality property. The startup handles all the pieces from visitor bookings and operations to property upkeep and expertise design, whereas the house owner earns revenue from stays.

On the visitor aspect, the platform provides curated vacation residence stays throughout leisure locations in India. It at present manages over 450 properties throughout greater than 80 locations spanning Maharashtra, Goa, Himachal Pradesh, Uttarakhand, Karnataka, Kerala, Rajasthan, and Delhi NCR.

SaffronStays claims to have expanded its portfolio by over 150% within the final three years. In its focus markets, the expansion has been sharper. Stock grew 70% in North India, 90% in South India, and 200% in Goa during the last two monetary years. The startup additionally claims to have remained worthwhile for 4 consecutive years, which is unusual within the broader hospitality and short-term rental house the place many platforms have prioritised development over profitability.

Greater than half of its income now comes from premium properties, and direct bookings contribute almost 70% of its general enterprise. The startup additionally mentioned its just lately launched app is gaining traction amongst clients.

It is going to use the raised capital for increasing its presence throughout current and new leisure locations, investing in expertise and product growth, enhancing visitor experiences, and rising its portfolio of managed properties within the premium and experiential phase.

Devendra Parulekar, Co-founder of SaffronStays, mentioned, “SaffronStays has at all times targeted on constructing a sustainable and worthwhile hospitality platform reasonably than chasing development at any value. Over the previous three years, we have now expanded our portfolio by over 150%, scaled meaningfully throughout our focus markets, and constructed a enterprise the place greater than half of our income now comes from premium properties. All through this journey, we have now remained worthwhile whereas persevering with to spend money on expertise, operations, and visitor expertise. This capital increase permits us to speed up these investments and additional strengthen our place in India’s managed holiday-home market.”

Tejas Parulekar, the opposite Co-founder, mentioned, “Direct bookings at this time contribute almost 70% of our enterprise, our just lately launched app is already gaining significant traction, and demand for experiential stays continues to develop. Our imaginative and prescient is to construct 5 regional enterprise items, every able to producing Rs 100 crore in annual enterprise, whereas sustaining a disciplined method to profitability, operational excellence, and buyer satisfaction.”