Hostmaker clinches £5m Series A funding to ramp up support for Airbnb hosts
The hospitality management service featured in the Startups 100 2016 index has taken total funding to £7.5m with backing from DN Capital and Ventech
Hostmaker, the Airbnb hospitality service ranked among the top 100 start-ups of 2016, has secured £5m Series A funding in a round led by Parisian venture capital fund Ventech and DN Capital; the investors behind Shazam and Purplebricks.
Launched in July 2014 by Nakul Sharma, Hostmaker manages short term rentals for homeowners on Airbnb.
Its full-service offering covers everything from photography, writing the Airbnb listing, reservations, housekeeping and more.
It currently supports over 1,000 hosts across London, Rome, Barcelona and Paris with 100,000 active Airbnb listings. It claims to have experienced 400% growth year-on-year since its launch almost three years ago.
This latest investment follows a $1m round in September of last year and takes the start-up's total funding to £7.5m – more investment, it claims, than any of its European competitors such as Startups 100-ranked airsorted.
The funds will be invested in strengthening the company's presence in its existing markets as well as supporting expansion in 25 pipeline cities. It also intends to enhance the algorithm and technology behind the business.
Hostmaker's Sharma commented:
“Over the last few years, we have seen a fundamental change in how homeowners view their home as not just their private space but as a space to be shared, which allows them to monetise an asset and makes living in expensive European capitals more affordable.
“We are the only ones in our segment at the moment that is rapidly scaling internationally and capitalising on this opportunity for the homeowners by offering proprietary pricing technology, in-house interior design and a five-star hotel trained operations team, all under one roof.
“Our investors back our vision of creating a premium hospitality experience within the homestay segment that is seeing explosive growth. Regulatory changes in all cities have now made short-lets a category offering that is here to stay.”
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