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Andes STR Secures $4M to Expand Latin American and EU Operations

Chilean-American proptech Andes STR has raised $4 million in a funding round led by Executive Venture Fund, with participation from Evolution VC and Taram Capital.

Founded in 2019 by Sebastián Rivas and Matías Duhart, the company's AI-driven platform optimizes the management of short-term rental properties, attracting institutional investors seeking to capitalize on the booming Airbnb market. Andes STR has rapidly grown its portfolio to over 320 properties across the US and Chile.

A core component of this growth strategy involves substantial investment in software development to optimize operations and streamline entry into new territories.

The Chilean-American startup plans to use the new funds to expand its operations into new countries in Latin America and the EU over the next year, and to enhance its technology infrastructure.

The company also aims to achieve $5.5 million in revenue by the end of 2024, with projections of $9 million and $20 million for 2025 and 2026, respectively.