UK-based Airbnb management company Hostmaker plans expansion into Asia after securing $15 million in fresh funding.
As the largest VC-backed homestay hospitality management team in Europe, this new round of investment will support Hostmaker’s technology development and its expansion beyond Europe
The $15 million in series B funding takes the total raised since the firm’s inception in 2014 to $25 million.
The new funding round was led by Sansiri, one of Thailand’s largest premium real estate developers and Hong Kong-based global hospitality real estate investor Gaw Capital.
Hostmaker’s existing lead investors – DN Capital , Ventech and DSGCP, all backed the venture with an investment in the round.
Founded in 2014 by Airbnb ‘Superhost’ and entrepreneur Nakul Sharma,
Hostmaker is a technology-driven hospitality management company that aims to take the hassle out of managing short-term rentals for homeowners.
It offers housekeeping from five-star hotel trained staff, professional photography, daily pricing reviews to maximise earnings, guest relations and vetting, and interior design.
The company also facilitates property profile and listing across platforms including Airbnb, TripAdvisor and Booking.com.
Hostmaker has carried out more than 150,000 services across Europe, growing at a rate of 400% year-on-year, and operates in London, Paris, Rome and Barcelona – four of the largest global markets for Airbnb.
This new round of investment will support technology development in proprietary pricing and operations applications as well as growth and expansion beyond Europe, in particular building a presence in Asia to support property investors there.
Founder and chief executive, Nakul Sharma, said: “Having raised an investment round just a few months ago, we were very much focusing on delivering a great service to our customers and establishing our leading position.
“However, we’ve always welcomed a conversation with strategic investors who believe in our global vision of creating a new experiential brand in the fast-growing homestay category.
“Sansiri approached us with an exciting proposition to take our brand to Asia which was always on our roadmap. Along with Gaw Capital’s Asian roots and global footprint, it felt like the right moment to accelerate our expansion in the east.”
Srettha Thavisin, from lead investor Sansiri, said: “The home sharing market is at an all-time high with 150 million people using Airbnb globally.
“Property management businesses that support the home sharing industry are growing at a similar speed and we are excited to work with Hostmaker, who are leading the charge in Europe by providing the highest quality service out there.”