Mexican Short-Term Rental Startup Casai Raises $48 Million Led by Andreessen Horowitz

Casai, a short-term rental brand offering travelers professionalized stays with hotel-style amenities in Mexico, said Wednesday it had raised $23 million in equity funding. Andreessen Horowitz, a venture-capital firm that was an early backer of Airbnb and Facebook, led the round. Kaszek Ventures, arguably Latin America's largest venture fund, also participated. Other backers included Global Founders Capital. Casai said it had also accessed as much as $25 million in debt financing from TriplePoint Capital, bringing the funding total to $48 million. The startup runs about 200 units in Mexico City. It offers hotel-like amenities, such as contactless and keyless entry, smart TVs, and high-speed Wi-Fi, along with contemporary Mexican art and design bought from local artists and artisans. The startup's business model has echoes of a wave of professionalized short-term rental brands that have popped up in the U.S. and Europe. The best-funded of these is Sonder, which in June raise