Airbnb management firm Hostmaker has raised a $15m (£11.4m) Series B round led by Sansiri, a Thai premium real estate developers.
According to TechCrunch, Hong Kong-based real estate investor Gaw Capital also took part in the round alongside existing backers DN Capital, Ventech and DSGCP.
The London-based firm, founded in 2014 by Nakul Sharma, seeks to make it easier for homeowners to rent their properties by providing a wide range of services such as cleaning, guest relations and interior design.
Sharma told TechCrunch that he founded the business after working on an essay about Airbnb’s impact on the hotel industry.
“I came to the conclusion that while it could be seen as a threat, it should be a priority for the industry to seek ways to integrate this new type of travel into their business models. I thought, why not bring high quality hospitality to the homestay experience? The top management, however, did not see Airbnb as anything more than a flash in the pan.”
Following a period of research – Sharma and his wife moved out of their home, used it as a testing lab, and rented a flat – he decided to focus solely on Hostmaker in January 2014.
Initially, Sharma invested £50,000 of his own money and he quit his job in the hotel industry.
Hostmaker closed a £5m Series A from Ventech in February. Prior to that, the company announced a $1m raise in September 2016.
To date, Hostmaker is live in London, Paris, Rome and Barcelona.
The money will be used to invest in Hostmaker’s proprietary technology and to fund international expansion in Asia.
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