Vietnam’s Airbnb-like startup Luxstay has announced an additional $2.5 million mobilised through its Pre-Series A Round from investors including Genesis Ventures, Founders Capital, Y1 Ventures, and two other investors.
Previously, Luxstay received funding from Japanese Genesis Ventures and Singapre-based ESP Capital in the middle of 2017. Without detailing the funds for the startup in the first time last year, Genesis Ventures, which also invested in VNG, Foody, Tiki, Vatgia, decided to inject money into the startup after a 30-minute meeting.
Working somewhat like short-term apartment rental site Airbnb, Luxstay focuses on luxury accommodation like villas, apartments, and high-end homestays owned by local people across Southeast Asia.
The startup was founded by Vietnamese entrepreneur Steven Nguyen and incorporated in Singapore but is currently mostly operating in Vietnam and Thailand. Luxstay targets to become the largest short-term rental platform in Southeast Asia.