A Dubai-based short-term rental proptech startup Silkhaus has successfully closed a new growth funding round to support its expansion.Â
While the exact funding amount remains undisclosed, this investment marks a significant step in the company’s mission to scale its presence in the Middle East, particularly in Saudi Arabia.
The funding round was led by Nuwa Capital and Oraseya Capital, with participation from Impulse International, Yuj Ventures, Nordstar, and several well-known family offices. This backing reinforces investor confidence in Silkhaus’s ability to reshape the short-term rental market across the Gulf Cooperation Council (GCC) region.
Silkhaus expansion into Saudi Arabia
Silkhaus has officially launched operations in Saudi Arabia with this new capital, opening bookings in key locations. The company currently manages properties valued at over $200 million annually across Dubai, Abu Dhabi, and Riyadh, catering to both luxury and mid-market travelers.
To support its expansion, the proptech has introduced a new booking platform, led by Sabine El Najjar (KSA Managing Director & VP Commercial) and Peter May (VP Operations). This platform aims to enhance the booking experience for both business and leisure travelers.
Additionally, Silkhaus is strengthening its leadership team and board of directors.
Ankit Shah has been promoted to co-founder and board member.
Abdul Wahab Al Halabi, Managing Director at Embassy Capital, has joined as an independent director.
Nitin Reen (Nuwa Capital) and Hassan Alfarsi (Oraseya Capital) have also been appointed to the board.
Additional senior leadership appointments are expected in the coming months.
Silkhaus’s CEO and founder, Aahan Bhojani, stated that the short-term rental market in the GCC is experiencing rapid growth. The startup aims to redefine the industry by providing high-quality rental solutions for property owners and premium accommodation experiences for guests.
According to company data, UK, USA, and Russian travelers are currently among the top international visitors booking stays through Silkhaus.
The latest funding round builds on Silkhaus’s previous milestones, including a multi-million pre-Series A round and a $7.75 million seed funding round after launching from stealth mode in 2022.
