‘Unhotel’ start-up Onefinestay raises £25m
Hyatt hotel group, Intel Capital and Index Ventures among Series D backers of Young Gun-founded luxury travel business
Onefinestay, the world's first “unhotel”, has secured an impressive £25m in a Series D round involving global hotelier Hyatt, venture capital firms including Intel Capital and Index Ventures, and a number of high-profile angel investors.
The deal coincides with a number of new appointments for the company with former Intercontinental Hotel Group finance chief Tom Singer and Vistaprint Europe ex president Nick Ruotolo joining as finance chief and chief commercial officer respectively.
Former eBay executive Dan Atkinson has also been named group vice president of people and Petros Demetriades apppointed as technology chief.
Launched in 2010 by Young Guns Greg Marsh and Tim Davey, Onefinestay enables travellers to stay in luxury private homes across London, New York, Paris and Los Angeles with thousands of home-owners having listed their properties to let on the site.
Dubbed an “upmarket Airbnb”, the business' latest investment takes total funding to over £50m and will be used for international expansion.