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Travela raises pre-seed investment to build a short-term rental platform

Accommodation-tech startup Travela announced today that it has raised an undisclosed pre-seed investment from prolific investor Mohammad Maaz. The deal valued the company at BDT 5 crore.

Travela is a short-term accommodation rental platform where anyone with available space or apartment can list their property and users can book these spaces through the Travela app. 

Founded by Mir Ishtiaque and Saad Rahman, the company says it has seen excellent growth and currently processes 500+ bookings per month, has over 15 thousand registered users, has around 500 properties listed on its platform, and served more than 1800 bookings. 

Travela currently operates in 6 cities in Bangladesh, including Dhaka, Chattogram, Cox's Bazar, Sylhet, Rajshahi, and Barisal, and aims to expand nationwide.

Local travel has rebounded in Bangladesh in the last few months as the country eases lockdown and expands vaccination. Many popular tourist destinations in the country are experiencing an influx of tourists comparable to pre-pandemic times. Over the past years, Dhaka has seen a number of travel-tech startups addressing various aspects of travel including short-term rental. Between 2020 and 2021, the coronavirus pandemic took a toll on the growth of these companies. As the travel returns in its full force, more activities in the vertical are going to take place in the coming months. 

Update on 4 June 2022: This article has been updated with new information.

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