A startup whose founding team includes two former Uber employees has secured $5 million to expand its vacation and short-term rental platform in Mexico.
Naya Houses began operations in Puerto Vallarta in August and, with the additional cash, will launch in Mexico City, with a 15-unit building at Polanco in September.
She specializes in vacation and short-term rental management, and works with both property investors and owners.
The company says that compared to incumbents in Latin America who run master leases on larger buildings, Naya Homes is a lean operator that maximizes profitability for all property types, from individual apartments to vacation villas.
Despegar, meanwhile, is strengthens its vacation rental portfolio in Latin America, following the closing of a 51% stake in chain manager Stays. Mexico City-based hosting startup Casai also strengthens its presence.
The funding round was led by Boston and New York-based Flybridge Capital Partners, with participation from Primary Venture Partners, Clocktower Technology Ventures, K50 Ventures, Carao Ventures, Trip Ventures, Colibri Equity Ventures, Derive Ventures, in addition of several former executives of Uber’s Latin American team.
“We believe Naya can deliver incredible value to many stakeholders across the large-scale residential real estate value chain,” said Jeff Bussgang, Partner at Flybridge Capital Partners, in a report. “Naya’s founding team is incredibly well positioned, with hands-on experience running operationally intensive businesses in LATAM, ranging from Uber to Sonder.”
The funding follows a $600,000 pre-seed led by Primary Venture Partners in March 2022.