Finalytic

Finance is one of the hardest things for short let managers to scale as they grow.

At the beginning, when you have just a few properties to manage, you do things manually. Every few days you login to your bank account and check that Airbnb has paid you. Things are easy. You start to grow, add more properties and new OTAs. Quickly complexity increases. You now login to multiple Airbnb accounts, get locked out, need to ask the team for the latest booking.com password. You continue to grow. At month end your laptop is full of different spreadsheets from Stripe, booking.com, your PMS.

You have built a system, the 'masterfile v2.3.xls' is what you call it. It's your source of truth for anything finance and meant to solve it all. But every month you spend more time tracking payments. And notice more errors. At first just a few. But then, one weekend, you realise you're missing £30k in your bank account. You've been paying your owners more than you have received from OTAs. The next days are stressful. It takes you a while to realise that one of your Airbnb accounts simply needed the payout bank details re-verified. Sign of relief. All the while you've been saving your company from going under, your inbox has been building up with requests from the team. Your CEO asks you to 'run a quick report for the board meeting with our current cash position'. You start sweating - how much of that money in our client account actually belongs to us?

We've spoken to 100s of short let managers across the world. All of them, including us, have gone through a version of this story. But surely this can't be it. You have AI chatbots speaking to your guests, keyless door entry systems and machine learning powered pricing algos. Where is the innovation in finance?

Lets take a step back. Why is finance for short let managers so difficult? The answer is simple: the financial data you receive from various channels is often wrong and really difficult to work with (think Airbnb or Stripe bundling different reservations into 1 payout). How can you scale your finance when the foundations you build on are this weak?

-> that's why we are building Finalytic. Lets automate finance for short let managers!