HotelYaari, a fractional ownership platform for holiday homes and hotel suites, has raised $2.17 million in seed funding from Alios Ventures. The complete investment will be disbursed in three equal tranches in the next three quarters.
HotelYaari is designed to allow individuals to invest in their holiday homes and hotel suites. It has a concept similar to holiday homes fractional ownership startups such as Picasso in the United States and Kocomo in Mexico, which both allow customers to own shares of property without having to purchase it outright.
This allows them access at a fraction of the cost, making it an attractive option for those who don't have the resources or ability to purchase an entire holiday home or hotel suite.
Advertisement
“This is a major milestone for the company as it continues to expand its reach and establish itself as a leading player in the hospitality industry. The investment will be used to further develop the platform and hire more personnel to cater to the demand for fractional ownership of holiday homes and hotel suites,” said Janardan Tiwari, founder and CEO of HotelYaari.
Commenting on the fundraise, John Park, advisory head of Alios Ventures, said, "At Alios Ventures, we have full faith in the vision of Janardan and his team to shape the future of holiday accommodations through Fractional Ownership. We believe that HotelYaari will be a catalyst for positive change, providing unprecedented access to holiday homes and hotel suites all over the world."
Just one email a week