Ukrainian venture capital syndicate TOLOKA has invested $1.7 million in Portoro, a technology company that has developed a solution for finding short-term rentals of luxury apartments in the United States. The fund shared the news with AIN.

About Portoro

  • Portoro creates a streamlined and technologically advanced ecosystem that generates more revenue for owners. According to the release, owners earn an average of 37% more thanks to AI-powered analytics.
  • The company brings together the best villas, houses and apartments in resort areas under one management and offers competitive management fees ranging from 16% to 30%, depending on the market.
  • In 2023, Portoro generated $2.7 million in GBV and in 2024, this figure increased to $28.9 million - a tenfold increase. Portoro works with more than 600 properties.

Investment details

The startup's investor, TOLOKA.vc is a Ukrainian venture capital syndicate founded in 2023 by Taras Kirichenko, Igor Shoyfot, and Alexander Kolb. It currently has about 1000 investors and has made 17 investments worth over $17 million, supporting startups with a clear path to scale and exit. The fund's portfolio includes Gin, Scan.com, FINN, NewHomesMate, and Persimmon.

It is said that as part of the deal, TOLOKA received not only "favorable financial terms," but also an observer seat on the board of directors of Portoro. This will allow the Ukrainian consortium to participate in the company's strategic decisions and influence its development.

The fresh financing will allow Portoro to fulfill its plans of increasing its client base to 5,000 properties by 2028 and reaching an EBITDA of $100 million.