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Wimdu, ex-rival of Airbnb, is closing down

The Wimdu housing rental platform has decided to stop all activity at the end of the year

Wimdu wanted to be Airbnb's European rival and had received many investments to promote its growth. For example, believing in the self-proclaimed "Airbnb killer", Rocket Internet and AB Kinnevik had put more than $90 million into it.

The European start-up announced from its offices in Berlin that it would cease all activity at the end of the year. It indicated that trips with a check-in date this year could be taken; the others would be cancelled.

In the press release, Wimdu GmbH states: "Facing significant financial and business challenges, Wimdu will cease operating by the end of 2018. The company counts 100 employees located in Berlin and Lisbon."

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