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Turkish Proptech Missafir Acquires Croatian Company To Scale in CEE

Turkish proptech Missafir has acquired Golden Leaf Properties to enter the Central European market and expand its short-term/mid-term home rental management platform.
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• Turkish proptech Missafir has acquired Golden Leaf Properties to enter the Central European market and expand its short-term/mid-term home rental management platform.

• The acquisition includes more than 110 high-quality villas and apartments in popular tourist destinations in the Adriatic region, such as Sibenik, Split, Hvar Islands, Zadar, and Trogir.

• Missafir aims to become Europe’s largest short-term/mid-term home accommodation brand by providing extensive services such as furnishing, cleaning, listing, and customer service for homeowners in these destinations.

The Turkish company’s strategic decision to enter and grow in Croatia has a historical significance for it to become a global brand that introduces Turkish hospitality to the world, the company’s founder and CEO Mehmet Yüksel said.

“We are entering a region that is one of the most popular tourist destinations in recent years, with a large portfolio and a talented team. It will provide us with a competitive advantage in entering the market and will be a strategic step towards expanding into CEE countries that we will continue to pursue rapidly,” Yüksel said in a statement.

Missafir’s Property Management System provides listing, management and guest communication on more than 35 platforms. The company’s solution has digitized the whole renting and managing a holiday home experience, while conducting dynamic pricing and full automation among other benefits for homeowners.

Golden Leaf Properties was established in 2014 and specializes in high quality short-term rentals. According to one of its founders, Maksimilijan Šprung, the Croatian company is now excited to be becoming a part of an international brand.

New products in the luxury and VIP segments

With the recent acquisition Missafir will be also looking to add new products, mainly in the luxury and VIP segments, and offer more services to foreign tourists looking for a luxury travel experience during their vacations.

“In recent years, we have made significant technology investments and believe we have the best technological infrastructure in the European market. With this acquisition, we have created a strong realm to integrate our technology into the other side from day one and benefit from their local market and operational experience. It has been an experience that enables us to snowball effect in Croatia and allows us to enter other markets quickly.” Yüksel added.

Read more:  Greek-Founded Proptech Flyway Raises $10M to Make Second Home Ownership More Accessible

The latest deal also showcases a growing trend of investments and deals in the proptech space in the region. At the end of 2021 the Turkish startup raised $550K, and has now expanded its service coverage with more than 2,000 homes in over 100 popular locations in Turkey, Northern Cyprus, Montenegro and Mykonos.

 

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https://therecursive.com/author/bojanstojkovski/

Bojan is The Recursive’s Western Balkans Editor, covering tech, innovation, and business for more than a decade. He’s currently exploring blockchain, Industry 4.0, AI, and is always open to covering diverse and exciting topics in the Western Balkans countries. His work has been featured in global media outlets such as Foreign Policy, WSJ, ZDNet, and Balkan Insight.