Fast-growing holiday website secures $16.9m funding round
Index and Balderton lead investment in Housetrip
Short-term holiday rental website Housetrip has completed a $16.9m (£10.7m) funding round, led by Index Ventures and Balderton Capital.
The deal, which follows a $2.7m (£1.7m) series A funding injection from Index Ventures earlier this year, will see Balderton Capital’s Tim Bunting take a key position on the Housetrip board.
Launched last January, Housetrip enables European property owners to offer up their apartments for rent, and provides a genuine alternative for holidaymakers tired of staying in hotels. The company already has 55,000 apartments on its database, and is currently attracting one million visits every month.
Founder Arnaud Bertrand told Growing Business the new funding will be used to drive growth in three key areas:
“First of all we want to add new apartments to the site – we are adding approximately 1,000 new apartments a week, and we want to continue that. Then we are going to be developing the product, spending on things like a post-booking product to make the customer experience even better.
“The third thing is raising awareness – making sure as many people as possible hear about Housetrip as the best means of travel.”
Bertrand was also quick to praise the contribution already made by Index Ventures, saying:
“The name Index is incredibly powerful. As soon as Index came on board it became considerably easier to convince people to work for us, and has really helped us hire senior directors. “
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Neil Rimer, of Index Ventures, is already a key member of the Housetrip board. He said:
“Housetrip provides a fantastic experience for a guest to go and stay in the city, and it provides a really authentic experience for the traveller. It’s also a great tool for owners looking to monetise their assets and find someone to use their apartment or house while they’re not there.
“As the company grows, it may need to raise more capital, and we may want to participate in future funding rounds, if not lead them. The company is doing very well, and we’ll consider raising money if and when that situation arises.”