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Love Home Swap raises £1m from MMC Ventures

Love Home Swap, a holiday home swap service, has raised a further £1.025m follow-on funding from MMC Ventures.

This brings the total investment from MMC Ventures to £2.65m.

The funding will be used for marking, product development and new hires. The site aims to double its user base over the next 12 months.

The future of time-shares

Love Home Swap was founded back in October 2011 by Debbie Wosskow. They now list over 45,000 properties across 150 countries worldwide.

The number of listings on the site have increased by 5x and revenues have grown by 3.5% following the acquisition of 1stHomeExchange, a competitor site.

Swap points system

Today the site also launched a new points scheme, which will mean members will no longer need to match exact dates and destinations.

Instead they can pledge time in their property to a central bank, and then exchange these points to stay at other homes across the world for free.

Commenting on the investment, Debbie Wosskow, CEO of Love Home Swap, said:

“We’re excited to close this latest round of funding to help us continue to scale the Love Home Swap business. The home swapping model is potentially the future of time-shares, a sector with a long history that is looking to modernize fast and reach out to future generations.”