HostnFly raises 10 million dollars to expand its short-term rental management services to Europe
July 16th, 2019
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HostnFly is raising a new round of funding to strengthen its presence in France and expand internationally. The round was led by Highgate Ventures, a New York and London-based early stage and growth equity investor focused on the hospitality, travel, lodging, and real estate industries. Existing shareholders including Partech and Kerala Ventures also participated in the financing.
The second most important round of the sector in Europe
While the short-term rental management industry is consolidating, HostnFly intends to position itself as the market leader in its sector. The financing represents the largest round completed by a French player in this market and the second largest fundraise in Europe broadly.
Launched in 2016, HostnFly offers its customers a turnkey rental management service for their home and provides up to 30% more revenue on average than an Airbnb rental. From taking photos and creating ads to handling the keys, selecting and communicating with guests, HostnFly offers a full service [management platform]. All logistical tasks, such as housekeeping and linen supply, are also offered, saving hosts an average of 40 hours per year in managing their rentals.
After a first round of 3 million dollars in July 2017, the startup has developed its business and now manages more than 3,000 homes in France with leading market share in in Paris, Lyon and Marseille. It also joined forces with La Conciergerie by Odalys (Odalys Group) to expand its offering to nearly 30 ski and seaside resorts throughout France.
Strengthen its presence in Paris and conquer new territories
With the trust of its new investor, Highgate Ventures, and continued support from existing investors, Partech and Kerala Ventures, HostnFly aims to aggressively expand by:
« We are delighted with the renewed trust of our investors and the support of Highgate Ventures who brings tremendous hospitality and tech experience to HostnFly. These funds will allow us to expand aggressively thanks to a constant improvement of our technologies and to keep deploying in new cities in France and abroad. We will triple the size of the team in one year with the goal to become the European leader in the rapidly growing short-term rental industry », said Quentin Brackers of Hugo, co-founder and CEO of HostnFly.
Launched in 2016, HostnFly allows owners to rent their home on Airbnb while they are gone, quickly, simply and with peace of mind. HostnFly manages everything, like taking photos, creating ads, selecting guests, handling the keys, housekeeping and maintenance 7 days a week. Thanks to its smart algorithms, HostnFly daily optimises the renting prices of the accommodations. After raising 2,5 millions euros in 2017, HostnFly is the Airbnb conciergerie number 1 today in France and handles more than 3 000 accommodations in Paris, Lyon and Marseille. Since its launch, HostnFly has hosted more than 150 000 guests. More information on www.hostnfly.com.
About Highgate Ventures
Highgate Ventures is a leading global venture capital and growth equity platform that focuses on majority and minority investments in the hospitality, travel, lodging and real estate industries. We seek to partner with visionary entrepreneurs whose companies have a clear opportunity for technological disruption and potential for rapid scale. With offices in New York and London, our investment portfolio benefits from our global hospitality network and proven playbook that leverages our operational expertise, strategic relationships and financial capital. Founded in 2016, Highgate Ventures has completed 10 technology investments across North America, Europe and Asia.
Partech is a global investment firm with offices in San Francisco, Paris, Berlin and Dakar. We bring together capital, operational experience and strategic support for entrepreneurs at seed, venture and growth stages across multiple continents, with over €1.3B investment capacity. Investments range from $200K to $50M in a wide range of technologies and businesses for enterprises and consumers, from software, digital brands and services, to hardware and deep tech across all major industries. Companies backed by Partech have completed more than 20 initial public offerings and more than 50 strategic exits above $100M. Our current portfolio: https://partechpartners.com/companies/
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