Vacation rental management company Naya Homes has announced new financing of over $3.1 million, supplementing the $6.1 million from its initial seed round in September 2022.
It takes the company’s total funding to date to more than $9 million.
Focusing on leveraging technology to create value for real estate investors and vacation rental property owners, Naya Homes is continuing its rapid expansion in Mexico.
The PropTech company will use the funding to launch its operations in ten new travel destinations, including Cancun, Playa del Carmen, Puerto Venturas, Puerto Morelos, La Paz, Todos Santos, Puerto Escondido, Acapulco, Valle de Bravo and San Miguel de Allende. The expansion adds to its existing markets of Puerto Vallarta, Riviera Nayarit, Mexico City and Los Cabos.
In less than two years since its inception, Naya Homes has doubled its growth targets, managing over 400 properties including apartments, houses, villas and vacation units. The company, which operates without lease arbitrage or minimum guarantees, anticipates tripling its growth in the next 12 months.
The round was led by Primary Venture Partners, with significant backing from BBG Ventures, alongside continued support from the company’s existing investor base.
Having launched its operations in Puerto Vallarta in August 2022, Naya Homes is already hosting its vacation rental properties on more than 15 OTAs such as Airbnb, Booking.com, Homes & Villas by Marriott Bonvoy and Vrbo, and has hosted over 25,000 guests.
The company focuses on empowering real estate investors, developers and small property managers to maximise their returns through the short-term rental model. Furthermore, it is seeking to bring technological infrastructure and innovation to the vacation rental sector, incorporating engineering, data science, and top-notch processes to provide transparency.
Jason Shuman, partner at Primary Venture Partners, said: “The team at Naya Homes has quickly built the most trusted and professional property management brand in Mexico, helping vacation rental owners consistently outperform the market and sleep well at night knowing they have a high quality, consistent manager who they can rely on. Emerging markets are ready for the short-term rental world to institutionalise and Naya Homes is the company that will help unlock that.”
Susan Lyne of BBGV said: “Naya Homes has everything we look for in a company: great founders with solid operational experience; commitment to creating value for every customer; and a product that builds trust and transparency through shared data. We are delighted to join them and look forward to working with the team to build the dominant platform for vacation rental management.”
Humberto Pacheco, co-founder and CEO of Naya Homes, said: “At Naya Homes, we continue to invest in Mexico. We are focused on providing increasingly more value to our customers so they can maximise returns on their real estate investments.
“Unlike other market players in the country, Naya Homes has an innovation-based business model, as we use advanced technology and data science to drive profitability for any type of property, from individual apartments to vacation villas, without investing in long-term rentals, minimum guarantees and furniture,” he added.
