Sweetguest, which provides property management services to owners of short- and medium-term rental lodging, has raised a $9 million Series A round.
Funds overseen by Indaco Venture Partners SGR and Invitalia Ventures SGR led the round. Sweetguest had previously raised $2.8 million.
“The still-fragmented market in Italy could potentially allow Sweetguest to grow through acquisitions,” said Antonella Beltrame, co-founder of Indaco.
Since its founding in Italy in 2016, Sweetguest has hosted more than 90,000 guests at more than 1,000 properties through Airbnb. It has generated more than $13 million in revenue to date, said co-founders CEO Rocco Lomazzi and chief financial officer Edoardo Grattirola.
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