Stayfolio raises 10 billion won in Series A funding

Stayfolio, a curated platform for fine stays, announced on the 21st that it has raised an additional KRW 10 billion in a Series A round.

The round included TBT, IBX Partners, and Quad Asset Management. The TBT-IBX Next Unicorn No. 2 Investment Partnership, which invested in Stayfolio, is jointly managed by TBT and IBX Partners. Kim Bong-jin, chairman of Woowa Brothers, and others participated as limited partners. TBT previously led Stayfolio’s initial investment.

Stayfolio is pioneering a new travel category called “fine stays,” curating more than 430 properties worldwide to offer travelers distinctive accommodation experiences. Beyond connecting customers with lodging, the company offers in-depth content about each space and personalized recommendations, and is expanding into various stay-related businesses. It also provides exclusive services in Korea through a direct contract with AMAN, a world-renowned high-end hotel brand.

With this latest funding, Stayfolio plans to strengthen its global competitiveness and become a leading global fine-stay company. It aims to increase market share through its offices in Singapore and Japan while evolving into a new kind of spatial-experience platform by developing services and exclusive accommodations that deliver distinctive experiences.

Stayfolio CEO Lee Sang-mook said, “Despite challenging market conditions, our solid growth prospects enabled us to secure this investment. Global travel is picking up, driving growth in inbound and outbound travel, while technological advances are accelerating the adoption of smart technology in the lodging market. With this funding, we aim to strengthen our competitive edge, grow our global market share, and establish ourselves as a global leader in the fine-stay market.”

Kim Do-yoon, director at IBX Partners, said, “We decided to invest because we expect the fine-stay market to continue growing as millennials and Gen Z, who seek personalized and distinctive experiences, become key consumers of travel companies. Stayfolio focused on building global infrastructure and developing smart hospitality services during the pandemic, so we expect revenue to rise significantly from next year, when global markets are expected to return to normal.”

Stayfolio: https://www.stayfolio.com/