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HOSTMAKER raises $5M to fund acquisition and growth

Europe’s leading homestay management service receives this latest financing from Silicon Valley Bank

HOSTMAKER, the leading home rental management company in Europe, has announced a $5M venture debt round, in addition to the $25million raised since inception in 2014.

 

The financing was headed up by Silicon Valley Bank, the California-based bank specialising in banking products for high-growth innovation businesses. This latest raise follows a successful Series B funding round last November, which saw the company raise $15million.

 

The company will use this latest injection of money to acquire smaller portfolio operators where they see an opportunity to uplift earnings for their property owners. HOSTMAKER is also looking to further invest in their in-house technology to enhance operational efficiencies and improve returns for property owners.

 

HOSTMAKER was founded in 2014 by former hotelier Nakul Sharma, and has scaled with strong traction across Europe. Hostmaker offers residential property owners an end-to-end management solution that uplifts earnings through thoughtful design, dynamic pricing algorithms and hotel-style operations. The start-up facilitates property listing and marketing across platforms including Airbnb, Booking.com, TripAdvisor and many more. Marriott International recently announced a partnership with Hostmaker to introduce a new branded home-sharing proposition named Tribute Portfolio Homes.

 

Travellers and tenants looking for short, mid-term or long-term rental options can take advantage of Hostmaker’s fully furnished and managed apartments in central locations for a ‘plug and play’ experience.

This announcement follows the company’s recent launch in the Asian market earlier this month, which is part of HOSTMAKER’s plan to more than double their markets in 2018. As the largest VC-backed homestay hospitality management team in Europe, HOSTMAKER has continued its remarkable rise, growing 3x year-on-year. The company currently operates in nine major international destinations for leisure and business travel across the globe - London, Paris, Rome, Barcelona and Lisbon as well as Cannes, Florence, Madrid and Bangkok.

 

On the investment, Nakul Sharma, HOSTMAKER founder and CEO, said:

 

“This is a very exciting time for us. Having recently announced our first expansion outside of Europe in Bangkok, we are very proud to announce this additional funding. It’s another vindication that we are moving in the right direction as a company and it will help with our plans to continue growing into other cities and acquire businesses in the sector to help fuel our growth. We are also continuing to invest in our proprietary technology platforms to deliver top service to our customers.”

 

Andrew Parker, Vice-President, Silicon Valley Bank, said:

 

“Home sharing is a burgeoning market and the work that Hostmaker is doing is at the forefront of this fast-growing sector. We love working with clients that are solving real problems and Hostmaker simplifies the process for both landlords and guests. Their recent expansion into new cities, such as Bangkok, is very exciting, and we look forward to working with them to continue this impressive growth.”

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