Hospitality management service Hostmaker has managed to achieve the largest fundraise for an Airbnb Management Service, after the company closed a new £5 million funding round led by Paris-based VC fund Ventech and existing investors DN Capital. The funds will be used to strengthen the business’s leadership position within its London, Paris, Rome and Barcelona markets, which make up four of Airbnb’s largest global markets.
Hostmaker is a full service Airbnb management company that takes the hassle out of managing short term rentals for homeowners, and it was founded by experienced hospitality professional and Airbnb host Nakul Sharma. The business has grown significantly since its launch in 2014, and is now 8x the size of what it was three years ago, with its total funding of £7.5 million beating many of its European hospitality management competitors!
The company currently supports over 1,000 homestay hosts in its four major markets, and following this funding you can be sure to expect further developments and growth over the next few years, with some of the investment also expected to be put towards delivering superior income to homeowners thanks to Hostmaker’s proprietary pricing algorithm and in-house yield experts.
“Our investors back our vision of creating a premium hospitality experience within the homestay segment that is seeing explosive growth,” commented Nakul Sharma. “Regulatory changes in all cities have now made short-lets a category offering that is here to stay. Over the last few years, we have seen a fundamental change in how homeowners view their home as not just their private space but as a space to be shared, which allows them to monetize an asset and makes living in expensive European capitals more affordable.”
What Hostmaker has achieved in such a short space of time in the industry is quite outstanding, and the company will continue to set the perfect example for others to follow in the future!
