NV3 invests in FantasticStay to democratize the short-term rental industry
Updated: Feb 15, 2021
We are happy to announce our investment in the proptech company FantasticStay, a leading short-term rental PMS, Channel Manager and service provider. The total round of EUR 1.3M is led by New Vision 3 Fund (NV3) with EUR 0.8M, in syndicate with angel investor Velizar Velichkov and previous investors. The Fund of Funds is the largest investor in NV3.
“We are happy to join FantasticStay in their quest to democratize the short-term rental industry and enable practically everyone to become a professional property manager and a business owner. Although impacted by COVID-19, the sector has very strong long-term fundamentals and we are confident that FantasticStay will be among the leading enablers in the sector” said Yordan Zarev, partner at NV3.
This investment round will support the growth and adoption of FantasticStay software and services that helps property managers to manage and scale their short-term rental businesses. “Right now the short term rental industry, as part of the global travel industry, is still suffering a lot from the COVID-19 pandemic. We are confident that the industry will bounce back stronger than ever,” said Ivan Nikolov, founder and CEO at FantasticStay. “We aim to be a support backbone and the engine behind short-term managers to streamline their operations, get more reservations, revenue and delight their guests during these unprecedented times.”
The company serves hundreds of companies and individuals across the globe through the FantasticStay brand and its Vreasy brand, a former competitor which it acquired in 2020. Additionally, the company is an Official Partner of Airbnb Inc., Booking Holdings (Booking.com) and Expedia Group. With this financing, FantasticStay plans to expand global operations and release substantial updates to its product and services offerings.
Founded in 2018, FantasticStay offers one of the world’s most advanced property management systems (PMS) and channel managers (CM) aimed at short-term property managers. Utilizing a lot of actual short-term management experience as property managers themselves, FantasticStay’s team has built a solution to enable small and medium sized operators alike to streamline and automate their entire short-term rental business - from onboarding and marketing a property to guest check-out. For more information, please visit FantasticStay.com.
NV3 is a venture capital fund investing in tech start-up companies and successor of NEVEQ I and NEVEQ II, veterans within the venture capital industry in Bulgaria and the region. NV3 operates from Sofia, Bulgaria, and invests in fast-growing tech companies, which aspire for the leading position in their domains on the local and/or global markets. The leading investor in the fund is the Fund of Funds in Bulgaria with a commitment of EUR 19.1 million provided by the operational program “Innovation and Competitiveness 2014 – 2020”, co-financed by the European Structural and Investment Funds.
About Fund of Funds
The Fund of Funds in Bulgaria is managed by Fund Manager of Financial Instruments in Bulgaria EAD (FMFIB) which main activity involves structuring and managing of financial instruments, co-financed by the European Structural and Investment Funds, during the 2014-2020 programming period. The company manages over EUR 660 million public resources and offers a wide range of products for the financial sector of the Bulgarian market, including guarantees, private equity funds and several others.