Hostaway raises USD 1.45 million
Finnish vacation rental management platform Hostaway has raised 1.45 million US dollars in funding. Its partners include Booking.com, Airbnb and Expedia.
Hostaway has grown rapidly in the fast expanding vacation rentals market, where its SaaS system enables short-term property managers to integrate their rentals with all major channels, including Hostaway’s partners Booking.com, Airbnb and Expedia.
“Our customers are professionals whose traditional business models have been to rent out dozens of homes worldwide,” said Marcus Räder, CEO and co-founder at Hostaway, in a press release. “Today, it is no longer enough to manage your properties on the one sales channel and everybody’s business model is to be present everywhere, all the time. Which is exactly what Hostaway offers.”
Hostaway secured 700 000 euros from investors earlier this year and has collected a total of 2.4 million euros in funding to date. Its backers include Finnish venture capital firm Vendep Capital and Business Finland, and since September 2018 the Finnish company has also been growing as part of North American business incubator DMZ.
“DMZ has been a massive help for us,” Räder said. “Their mentorship and network makes it easier for us to attract talent and accelerate our growth. The Toronto tech scene is booming and we’re right at the crux of this momentum with the rest of the big tech-leagues.”
Hostaway’s global team of 30 members is made up of nearly 20 nationalities spread across its offices in Barcelona, Toronto, Helsinki, Melbourne and Kiev. It’s currently looking for new talent in Toronto, Helsinki and Barcelona.
Find out how the co-founder of Hostaway discovered a major opportunity in the rapidly growing vacation rentals market in our feature article.
Good News from Finland is published by Finnfacts, which is part of Business Finland.