Luxury villa marketplace Edge Retreats clinches $1m
London-based villa rental start-up will use investment to feature more properties and countries
Edge Retreats, a London-based global marketplace for luxury villa rentals, has completed a $1m seed round led by Lean Investments with participation from Forward Partners.
Launched by Luke McCormick in 2015, Edge Retreats caters for the ‘ultra-luxury’ end of the villa rental market and enables users to book high-end retreats around the world supported by an online concierge service.
With the global villa rental market set to be worth an estimated $23bn by the end of 2016, the company has said it will use the investment to expand its portfolio to include more properties and countries.
In light of the funding, Edge Retreats has moved from Old Street’s Silicon Roundabout to the London & Partners supported incubator Travel Tech Labs.
McCormick commented: “We’re pleased to be simplifying the process of finding and booking luxury villas around the world while offering exceptional concierge service. The story so far has been incredible, and I hope this next stage in our story will be even more exciting.”
Tim Jackson, general partner at Lean Investments, continued:
“McCormick’s got real expertise in the villa business, and he’s also a great online marketer – it was his leadership that got us interested in the business in the first place. But as we dug further, we began to realise why customers love Edge Retreats so much and why it’s likely to be the big winner in the space.”