Hostmaker, the property management company, announced new financing of $5 million from Silicon Valley Bank, in addition to the $25 million of funds already raised since its creation in 2014.
The purpose of this financing is to acquire and accelerate promising companies operating on short-term leases that "can benefit from its technology and operational expertise."
The startup works with many platforms such as Airbnb, Booking.com, TripAdvisor, MorningCroissant and many others.
In addition, its partnership with Marriott International enables owners to welcome travellers from the hotel group seeking to stay more locally: the "Tribute Portfolio Homes" initiative is currently being tested in London.
Also read: Marriott is entering the homesharing sector
Hostmaker continues to grow, on track to triple its revenues from 2017, and is now available in London, Paris, Rome, Barcelona and Lisbon, as well as Cannes, Florence, Madrid and Bangkok.
"This is an exciting time for us. After recently opening our first office outside Europe in Bangkok, we are now proud to announce this new fundraising event. This shows once again that our company is moving in the right direction. And of course, this will help us achieve our development objectives, by establishing ourselves in new cities and acquiring other players in the sector who will contribute to our growth. We will also continue to invest in our exclusive technology platforms to provide quality service to our customers," said Nakul Sharma, founder and CEO of Hostmarker.
"Homesharing is a booming market and Hostmaker is at the forefront of this growing sector. We enjoy working with customers who provide solutions to everyday problems and Hostmaker makes life easier for both landlords and tenants. Their recent expansion into new cities such as Bangkok holds great promise and we look forward to working with them to continue their impressive growth," said Andrew Parker, Vice President of Silicon Valley Bank.
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