Merging Airbnb and the traditional hotel model, Mexico City’s Casai raises $23 million to grow in Latin America

The 2 fulfilled two years earlier at a barbecue in Mexico City and began speaking about methods to upgrade the hospitality market, taking the best of Airbnbs short-term rental design of specific systems and matching it with the quality assurance and standards that guests get out of a hotel chain.

The company was co-founded by chief executive Nico Barawid, a previous head of international growth at Nova Credit and expert with BCG, and chief operating officer María del Carmen Herrerías Salazar, who previously operated at among Mexicos largest hotel operators, Grupo Presidente.

The company, which initially was hit as difficult by local responses to the COVID-19 pandemic as other services in the hospitality industry, has recovered to reach almost 90% of overall capacity on the 200 units it manages around Mexico City.

The businesss new financing was led by Andreessen Horowitz and included extra dedications from the companys Cultural Leadership Fund, Kaszek Ventures, Monashees Capital, Global Founders Capital, Liquid 2 Ventures and individual investors, consisting of the founders of Nova Credit, Loft, Kavak and Runa.

” I desired to specify an item from a customer angle,” stated Barawid. “I wanted this to exist.”

With travel and tourism rising across Latin America, Casai, a startup integrating Airbnb single unit rentals with hotel room features, has raised $23 million to broaden its organization across Latin America.

Casai likewise handled to catch a debt center of as much as $25 million from TriplePoint Capital, bringing its total cash haul to $48 million in equity and financial obligation.

Before the SARS-Cov-2 outbreak, Casais systems were mainly reserved through travel partners like HotelTonight or Expedia. Now the business has a direct vigorous direct reservation organization thanks to the work of its chief technology officer, a previous engineer at Google called Andres Martinez.

Image Credit: Casai

The big round is in part thanks to the companys engaging value proposal, which offers guests not only positions to remain equipped with a proprietary smart hardware center and the Casai app, but also a Google Home, chromecast-kitted televisions and wise lights, in addition to a lounge where visitors can remain ahead of their check-in or after check-out.

And while the companys vision is concentrated on Latin America now, its management team definitely sees the chance to produce an international brand and organization.

” To effectively perform on this opportunity, a group needs to unite proficiency from customer technology, design, hospitality, realty and monetary services to establish world-class operations needed to deliver on a first-rate experience,” stated Angela Strange, a basic partner at Andreessen Horowitz, whos sitting on the Casai board. “It was apparent when I met Nico and Maricarmen that they are operationally laser-focused and have distinctively blended know-how across verticals, with special views on the customer experience.”

The founding team also consists of a chief earnings officer, Alberto Ramos, who operated at McKinsey, and a chief development officer, Daniel Hermann, who formerly operated at the travel and lifestyle company, Selina. The head of design, Alexa Backal, used to operate at GAIA Design, and its vice president of experience, Cristina Crespo, formerly ran WeWorks worldwide design studio.